Eye on China, Vietnam offers 7 oil blocks to India

  • Jayanth Jacob, Hindustan Times, New Delhi
  • Updated: Nov 20, 2013 23:50 IST

In a move that could make China uneasy, India and Vietnam have decided to enhance oil and gas exploration in South China Sea with Hanoi offering seven blocks for offshore exploration in the South China Sea to the state-owned ONGC Videsh Limited.

This is the fine-print of an MoU between OVL and PetroVietnam signed here after the meeting between Prime Minister Manmohan Singh and visiting general secretary of communist party of Vietnam, Nguyen Phu Trong here on Wednesday, it has reliably learnt.

China had kicked up a diplomatic row with New Delhi against India’s oil exploration activities in the disputed South China Sea though Vietnam in the past said they are well within their rights to seek partnership with India on oil exploration. HT had first reported the row over the issue between India and China in September 2011.

As per the MoU which has been signed for three years, some of the blocks to be evaluated and responded to by OVL in a short period of time indicating their interest in production sharing agreements.

For others, OVL will carry out the evaluation and discuss with PetroVietnam Exploration and Production Corporation (PVEP) the terms and conditions for contract farm-in.

In fact, OVL had signed its first petroleum production contract with Vietnam for offshore Block 6.1 and commercial production started in 2003.

The OVL had also secured offshore deepwater Block 127 and 128 in 2006. Since then it has relinquished Block 127 and the deadline for responding to 128 expires next year with OVL likely to give it up on account of it not being “techno-commercial” viable.

The MoU signed on Wednesday provides for association in the field of exploration, development and production of petroleum resources between the two countries for new investments by OVL in oil and gas blocks in Vietnam for oil and gas exploration and production. Petro Vietnam is also invited to participate in open blocks in India and in third countries.

From Around the Web
Sponsored by Revcontent

also read

CM candidate Sheila Dikshit takes a break on day one of Congress’ UP mission
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome