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INDIAN GOVT LAUNCHES DIPLOMATIC EFFORTS TO SECURE SUDAN OIL FIELD.
NEW DELHI, Jan 2 Asia Pulse - The Indian government has launched a top level diplomatic initiative to secure a Sudanese oil field, where ONGC Videsh Ltd's (OVL) proposal to buy Canadian Talisman Energy's 25 per cent stake for US$720 million is facing problems from partners Petronas of Malaysia and CNCP of China.
"The government has taken appropriate (diplomatic) actions with the government of the Republic of Sudan following Petronas and CNCP exercising their pre-emption rights to buy Talisman's stake at the price agreed with OVL," Petroleum Secretary B.K. Chaturvedi told PTI.
The deal for the Greater Nile oil project has been referred to the Sudanese government following the development, he said, adding that "it (the Sudanese government) has until January's end to decide the fate of OVL's investment proposal".
While Chaturvedi declined to give ...
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