ONGC looking for partners to acquire Alberta oil sands' assets
Oil and Natural Gas Commission is looking for business partners for acquiring Alberta oil sands' assets, ONGC's Chairman and Managing Director R S Sharma has said.
By PTI |
CALGARY: Oil and Natural Gas Commission is looking for business partners for acquiring Alberta oil sands' assets, ONGC's Chairman and Managing Director R S Sharma has said.
He said on Thursday ONGC wanted to acquire Alberta oil sands assets, and it was holding discussions with more than one company as investment was going to be large.
"It is our focus area of investment," Sharma added. The CMD was in Calgary on Thursday to attend a road show organised by the Ministry of Petroleum and Natural Gas, and was attended by 120 Canadian companies.
The ministry had organised the road show as part of its promotional campaign to invite foreign investors to participate in the bidding of oil and gas blocks under NELP-VII. Fifty seven exploration blocks including 19 deep water, nine shallow water and 29 inland blocks are open for global bidders under NELP-VII. The offer closes on April 11.
He said on Thursday ONGC wanted to acquire Alberta oil sands assets, and it was holding discussions with more than one company as investment was going to be large.
"It is our focus area of investment," Sharma added. The CMD was in Calgary on Thursday to attend a road show organised by the Ministry of Petroleum and Natural Gas, and was attended by 120 Canadian companies.
The ministry had organised the road show as part of its promotional campaign to invite foreign investors to participate in the bidding of oil and gas blocks under NELP-VII. Fifty seven exploration blocks including 19 deep water, nine shallow water and 29 inland blocks are open for global bidders under NELP-VII. The offer closes on April 11.
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