State-run Oil and Natural Gas Corporation on Friday said it has been invited by the Saudi Arabian Oil Minister Al Naimi for a conference in London on July 24 to discuss the oil and gas opportunities in the Arab kingdom.

"Subir Raha, chairman and managing director, ONGC, has acknowledged the invitation, conveying the sincere appreciation for identifying ONGC from India for this potential oil and gas opportunity," a company press statement said in New Delhi.

Raha, who is also the chaiman of ONGC's wholly owned subsidiary ONGC Videsh Ltd, has confirmed that Atul Chandra, managing director, OVL will participate in the conference.

"At this time, no specific transaction is on the table," it added.