Brazil's Petrobras offers ONGC stake in oil block | business | Hindustan Times
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Brazil's Petrobras offers ONGC stake in oil block

Brazil's Petrobras offers 25-30 per cent stake to state-run Oil and Natural Gas Corporation in three exploration blocks.

business Updated: Jun 04, 2007 12:34 IST

Brazil's Petrobras has offered 25-30 per cent stake to state-run Oil and Natural Gas Corporation in three exploration blocks, a Petrobras official said on Monday.

In return, ONGC has offered 15-40 per cent stake in its three deep-water blocks on India's east coast, Petrobras manager Demarco Epifanio said.

"Preliminary agreement on these deals will be signed shortly," he said.