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RAJYA SABHA
To enhance energy security of the country, ONGC-Videsh Limited (OVL) is pursuing acquisition of equity oil as well as oil and gas exploration acreages and producing properties in several identified countries, including countries in the Caspian Sea area. The proposal regarding OVL’s participation in oilfields in Caspian Sea area is at an initial stage of consideration and, hence, the quantum of investment or the expected oil output cannot be estimated.
Limited production of oil and gas from Sakhalin-I project is expected from 2005-06. Full production of oil and gas from the field is expected from the last quarter of 2006-07.
Of the three Joint Ventures (JVs) formed by OVL in Exploration and Production (E&P) projects in Sudan, the Greater Nile Oil Project is already in commercial production. The other two projects are at the exploration stage. The Pipeline Project in Sudan started on the 1st July 2004 and is expected to be completed by October 2005.
This information was given by Shri Mani Shankar Aiyar, Minister of Petroleum & Natural Gas and Panchayati Raj in a written reply in the Rajya Sabha today
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