Currently, Mansarovar Energy Colombia, a joint venture (JV) formed by ONGC and Chinese oil company Sinopec, is engaged in the exploration, development and production of oil and natural gas in Colombia.
Currently, Mansarovar Energy Colombia, a joint venture (JV) formed by ONGC and Chinese oil company Sinopec, is engaged in the exploration, development and production of oil and natural gas in Colombia.
ONGC Videsh Ltd., which currently holds seven blocks in Colombia, intends to expand its presence in the country.
A joint working group is meeting shortly to discuss the expansion of energy cooperation between the two countries, according to the business daily.
ONGC Chairman and Managing Director D.K. Sarraf is believed to have held preliminary talks with the Colombian executives, it adds.
Colombia, which has emerged as a new source for crude oil exports in recent times, could look at long-term deals with IOC for supplying crude to its Paradip greenfield refinery, reports the newspaper.
India is planning to increase crude oil imports from Colombia by 20-30%, according to industry people.
Earlier this year, Union Petroleum Minister Dharmendra Pradhan discussed the matter with his Colombian counterpart Tomás González Estrada and other senior officials in Bogota.
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