Home | News    Saturday 4 June 2005

Indian Videocon eyeing oil fields in Sudan and Yemen


NEW DELHI, June 3, 2005 (Asia Pulse) — Videocon Industries Ltd is eyeing oil fields in Sudan and Yemen and is considering investing in the development and exploration of oil in India and in the Middle East.

Videocon is on the verge of closing talks with the Sudanese government on taking up to a 74 per cent stake in an offshore oil block that may involve an investment of US$100 million, a source close to the company said.

The Group, which also makes televisions and home appliances, is also closing in on an onland block in Yemen.

At home, Videocon has bid for prospecting for oil and gas in three out of the 20 blocks auctioned under fifth round of New Exploration Licensing Policy.

Videocon tied up with Perth-based Oilex and India Hydrocarbon Ltd to bid for one block each in Assam-Arakan, Bay of Bengal and Maharashtra.

"The consortium has bid very aggressively and stands good chance of winning the Maharashtra onland block and possibily also the Assam-Arakam block," the source said.

Oilex, listed on Australian bourses, has bid for the first time in an exploration round in India.

Energy-hungry India, which imports 75 per cent of its oil needs and barely produces the gas it consumes, has been pushing for intensfying exploration of domestic basins and encouraged companies to acquire oil and gas fields abroad.

Recently, Videocon signed a Memorandum of Understanding with the government of Khartoum province in Sudan for investing and developing oil projects there.

Videocon already has a stake in the Indian oil field, Raava, located in the Krishna-Godavari basin off the country’s eastern shore.

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

The following ads are provided by Google. SudanTribune has no authority on it.

Sudan Tribune

Promote your Page too

Latest Comments & Analysis

Toward viable future for South Sudan 2021-02-23 06:27:19 A critique of ICG’s Africa Report No. 300, 10 February 2021 Dr Lam Akol The International Crisis Group (ICG) issued its Africa Report No.300 on 10 February 2021. The report attempts to address (...)

18th anniversary of armed struggle in Darfur 2021-02-23 05:21:00 By Mahmoud A. Suleiman This article comes against the backdrop of the equal participation of members belonging to the armed struggle movements from the Darfur region in ministerial positions and (...)

Museveni proposal for political ethnicization in South Sudan is wrong prescription 2021-02-06 07:40:14 By Steve Paterno I just came across a video clip of President Yoweri Museveni of Uganda addressing a delegation of the USA and UK on the situation about South Sudan. The meeting took place (...)


Latest Press Releases

Sudan: Performing arts is not a crime, assaulting women and artists is! 2020-09-20 08:54:28 The Strategic Initiative for Women in the Horn of Africa (SIHA) Sudan is still struggling with militant Islamist ideology KHARTOUM: Central Khartoum Primary Court issued a verdict against five (...)

Civil Society Statement in Response to The Law of Various Amendments 2020-08-14 07:11:00 A Collaborative Civil Society Statement in Response to The Law of Various Amendments (Abolishing and Amending Provisions Restricting Freedom) – Exposing ‘a wolf in sheep’s clothing’ Sudanese women (...)

Remarks by SRF leaders at the Friend of Sudan meeting on peace 2020-08-13 07:58:58 Chairman of the Friends of Sudan Conference, Your Excellency, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, The Prime Minister of Sudan and the participating team from the (...)


Copyright © 2003-2021 SudanTribune - All rights reserved.