OVL to borrow $4 billion for Mozambique gas field stake
OVL and Oil India Ltd (OIL) are jointly buying a 10 per cent stake in Mozambiques offshore Rovuma Area 1 from Videocon for $2.475 billion.
Written by Press Trust Of India
New Delhi |
1 min read
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ONGC Videsh Ltd,the overseas arm of state-owned Oil and Natural Gas Corp (ONGC),plans to borrow a record $4 billion to fund its back-to-back acquisitions of stakes in a giant Mozambique gas field.
OVL and Oil India Ltd (OIL) are jointly buying a 10 per cent stake in Mozambiques offshore Rovuma Area 1 from Videocon for $2.475 billion.
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