India's ONGC will pay US 380m for a stake in a deepwater block held by Shell offshore Egypt where it is in the middle of a drilling campaign targeting commercial gas reserves for an LNG plant. While negotiations have been ongoing for some time reports now suggest that ONGC is now awaiting for the government's approval to go ahead with the deal for a 33% stake in the North East Mediterranean Deepwater (NEMED) block.
展开▼
