ONGC Videsh inks MoU with Angolan oil firm

New Delhi: ONGC Videsh (OVL) has signed a memorandum of understanding (MoU) with Angolan national oil company, Sonangol, for Joint Venture cooperation in the country.

OVL has partnership with Sonangol at the South Pars acreage in Iran. It has offered its expertise for joint venture operations in the existing deep water blocks of Sonangol.

OVL further offered to participate in the next round of bidding for exploration blocks in Angola with Sonangol.