Colombia

India, China Bid For Colombian Oil Field

11 April 2006

ASIA TIMES (NEW DELHI)--ONGC Videsh Ltd (OVL), the foreign arm of state-owned Oil and Natural Gas Corp (ONGC), may tie up with Chinese firm Sinopec to make a joint bid for at least 50 percent stake in a Colombian oilfield. Top OVL officials last week held talks with China's national oil company for joint submission of bid for Omimex de Colombia Ltd, industry sources said. The field produces approximately 9,450 barrels per day net of crude oil and 6,965 barrels oil from the Nare and Cocorna Association Contracts. Source: http://www.atimes.com/atimes/South_Asia/HD11Df03.html (Reliability: 7)