India’s ONGC Videsh keen on Sri Lankan oil and gas blocks

NEW DELHI (Reuters) – India’s Oil and Natural Gas Corp is interested in the exploration of oil and gas blocks in Sri Lanka, a company executive said on Wednesday.

The company was awaiting an announcement of the oil and gas ‘roadmap’ of the island nation, Rajarshi Gupta, managing director of ONGC Videsh, told reporters at an industry event.

ONGC Videsh is an overseas investment arm of state-run ONGC.

ONGC Videsh is open to having deals through government-to-government negotiations as well as through competitive bidding depending on Sri Lanka’s yet-to-be-announced exploration policy, Gupta said.

(Reporting by Nidhi Verma in New Delhi; Editing by Savio D’Souza)