Deora backs ONGC’s BP Vietnam bid

Oct 02, 2010 |

Correspondent

The oil minister, Mr Murli Deora, will pitch for ONGC buying BP Plc’s Vietnam gas fields when the British energy firm’s chairman, Mr Carl-Henric Svanberg, and the newly appointed chief executive, Mr Robert Dudley, visit India next week. OVL, the overseas investment arm of state-run Oil and Natural Gas Corp (ONGC), wants to buy BP’s 35 per cent stake in the $1.3 billion Nam Con Son gas project in Vietnam. OVL has roped in Vietnam’s PetroVietnam for buying BP’s stake in two offshore gas fields, a pipeline and power project — together referred to as Nam Con Son.

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