ONGC set to bid for Tanzania blocks

ongc27 September 2013, News Wires – Indian state player ONGC is likely to bid in Tanzania’s eight-block round which opens next month, the country’s commerce ministry has said.

The explorer’s overseas arm ONGC Videsh is set to join the running for seven offshore blocks and one onshore block with bidding due to start on 25 October.

India’s minister of state for commerce Daggubati Purandeswari and her Tanzanian counterpart Abdallah Kigoda discussed the round during bilateral talks in Dar-es-Salaam.

“Both the ministers agreed to double the volume of bilateral trade in the next two years and to reduce the trade imbalance, which is currently in favour of India,” the Indian commerce ministry said.

India is also involved in several infrastructure initiatives in Tanzania including a gas-fired power plant as well as maritime, renewable energy and railway transport projects.

– Upstream

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