EPIC UPDATE : ONGC

ONGC Videsh (OVL) and Oil India (OIL), have completed the acquisition of 100% PI in the Rovuma Area 1 offshore Block, Mozambique by acquiring 100% shares of Videocon Mozambique Rovuma 1, the company holding the 10% PI in the Area 1 from Videocon Mauritius Energy. The company had earlier on June 25, 2013 inked a definitive agreement to acquire this field.

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