ONGC Videsh gets interest in Kazakh block

By OGJ editors
HOUSTON, Apr. 18 -- ONGC Videsh Ltd. has signed definitive agreements to acquire a 25% participating interest in the 1,482-sq-km Satpayev exploration block in shallow water off Kazakhstan from Kazmunaigas, the national oil company.

ONGC Videsh, a subsidiary of state-owned Oil & Natural Gas Corp. of India, said the northern Caspian block holds two prospective structures, Satpayev and Satpayev (East), with total hydrocarbon resources estimated at 256 million tonnes.