{"id":1419,"date":"2014-07-09T19:13:38","date_gmt":"2014-07-09T16:13:38","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1419"},"modified":"2015-09-09T09:33:47","modified_gmt":"2015-09-09T09:33:47","slug":"ongc-videsh-raises-2-2-billion-for-mozambique-area-1-acquisition","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/ongc-videsh-raises-2-2-billion-for-mozambique-area-1-acquisition\/","title":{"rendered":"ONGC Videsh raises $2.2 billion for Mozambique Area 1 acquisition"},"content":{"rendered":"<p>India\u2019s state owned explorer ONGC Videsh limited has reported it has raised $2.2 billion through a dollar and Euro bond to finance a debt arising from the acquisition of Mozambique oilfields.<\/p>\n<p>ONGC Videsh had in January alongside Oil India limited announced the acquisition of 10% PI in the Rovuma Area 1 offshore Block, Mozambique by acquiring 100% shares of Videocon Mozambique Rovuma 1 Limited, the company holding the 10% PI in the Area 1 from Videocon Mauritius Energy Limited.<\/p>\n<p>The $2.2 billion is broken into $750 million in five-year bonds, $750 million in 10-year bonds and euro 525 million in seven-year bonds with the five-year dollar bonds priced at US Treasury yields plus 160 basis points, 10-year dollar bond at US Treasury yields plus 207.5 bps and the euro bond at MS+180.<\/p>\n<p>Investors have termed the deal as the biggest RegS deal from Asia and a clear show of the company\u2019s credit and investor confidence.<\/p>\n<p>Area 1 covers approximately 2.6 million acres in the deep-water Rovuma Basin, offshore Mozambique and represents the largest gas discovery in offshore East Africa with estimated recoverable reserves of 35 to 65 trillion cubic feet. The partners in Area 1 include <a href=\"http:\/\/ow.ly\/yXGlS%20\">Anadarko<\/a> (operator of the project), ENH (the NOC of Mozambique), Mitsui, BPRL, and PTTEP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s state owned explorer ONGC Videsh limited has reported it has raised $2.2 billion through a dollar and Euro bond to finance a debt arising from the acquisition of Mozambique &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/ongc-videsh-raises-2-2-billion-for-mozambique-area-1-acquisition\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[147,182,348,766,1603,1636,1912,2096,2189,2673,2675],"class_list":["post-1419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-anadarko","tag-area-1","tag-bprl","tag-enh","tag-mitsui","tag-mozambique","tag-ongc-videsh","tag-pttep","tag-rovuma-1","tag-videocon","tag-videocon-mozambique-rovuma-1-limited","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/ongc-videsh_2.jpg?fit=406%2C319&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-mT","jetpack-related-posts":[{"id":2158,"url":"https:\/\/www.oilnewskenya.com\/index.php\/india-and-mozambique-government-mou-to-enhance-cooperation-in-oil-and-gas-field\/","url_meta":{"origin":1419,"position":0},"title":"India and Mozambique Government MoU to Enhance Cooperation in Oil and Gas field","author":"Samuel Kamau Mbote","date":"December 11, 2014","format":false,"excerpt":"Indian minister of State for Petroleum & Natural Gas Dharmendra Pradhan and Mozambique Minister of Foreign Affairs and Cooperation Mr. Oldemiro Julio Marques Baloi recently signed a memorandum on cooperation in the field of Oil and Gas in a ceremony at the ONGC registered office at New Delhi. The MoU\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/12\/india-mozambique.png?fit=604%2C421&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/12\/india-mozambique.png?fit=604%2C421&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/12\/india-mozambique.png?fit=604%2C421&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":846,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ovl-may-raise-usd-500-700-m-to-fund-mozambique-acquisition-read-more-at-httpwww-moneycontrol-comnewsbusinessovl-may-raise-usd-500-700-m-to-fund-mozambique-acquisition_1065051-htmlutm_sourcer\/","url_meta":{"origin":1419,"position":1},"title":"OVL may raise USD 500-700 m to fund Mozambique acquisition","author":"Samuel Kamau Mbote","date":"April 6, 2014","format":false,"excerpt":"Story by Moneycontrol.com ONGC Videsh Ltd plans to raise USD 500-700 million loan by pledging future crude oil production from its overseas assets, to fund the acquisition of a Mozambique gas field. OVL, the overseas arm of the state explorer\u00a0 Oil and Natural Gas Corp (ONGC), teamed up with\u00a0 Oil\u2026","rel":"","context":"In &quot;News by others&quot;","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/ongc-videsh_2.jpg?fit=406%2C319&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2804,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ongc-videsh-rovuma-area-1-block-partners-invest-6b-mozambique\/","url_meta":{"origin":1419,"position":2},"title":"ONGC Videsh and Rovuma Area-1 block partners to invest $6B in Mozambique","author":"","date":"April 14, 2015","format":false,"excerpt":"India\u2019s oil minister Dharmendra Pradhan on return from a trip to Mozambique has announced that Oil India Ltd (OIL), its overseas subsidiary of Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp Ltd (BCPL) will invest $6 billion to develop their Mozambique acreage over the next 48 months. The\u2026","rel":"","context":"In &quot;Profile&quot;","block_context":{"text":"Profile","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/profile\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/04\/Mozambique-Map.jpg?fit=470%2C470&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":978,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-sell-helps-cushion-anadarko-from-bigger-losses\/","url_meta":{"origin":1419,"position":3},"title":"Mozambique sell helps cushion Anadarko from bigger losses","author":"Samuel Kamau Mbote","date":"May 6, 2014","format":false,"excerpt":"Anadarko Petroleum has reported a net loss of $2.669 billion largely driven by\u00a0 a contingent loss of $4 billion from the Tronox Adversary proceeding agreement. The sale of a portion of the company\u2019s interest in Offshore Area A block in Mozambique led to a gain of $2.64 billion cushioning the\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7604,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-rovuma-offshore-area-1-jv-partners-seal-more-lng-sale-and-purchase-agreements\/","url_meta":{"origin":1419,"position":4},"title":"Mozambique Rovuma Offshore Area 1 JV Partners Seal More LNG Sale and Purchase Agreements","author":"","date":"February 28, 2019","format":false,"excerpt":"ONGC Videsh, a wholly owned subsidiary of ONGC, the National Oil Company of India, has announced that\u00a0Mozambique LNG1 Company, the jointly owned marketing entity of\u00a0ONGC Videsh\u00a0and joint venture partners of\u00a0Mozambique Rovuma Offshore Area 1 project\u00a0incorporated at Singapore, has entered into a long-term\u00a0LNG Sale and Purchase Agreement (SPA)\u00a0with a)\u00a0Tokyo Gas\u00a0and\u00a0Centrica LNG\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Area-1-LNG-Facility-Site.jpg?fit=362%2C416&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4854,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ongc-videsh-sponsors-mozambique-south-sudan-students-to-study-in-india\/","url_meta":{"origin":1419,"position":5},"title":"ONGC Videsh Sponsors Mozambique, South Sudan students to Study in India","author":"","date":"July 22, 2016","format":false,"excerpt":"A delegation of five students from Mozambique arrived recently in Delhi under the CSR initiative of ONGC Videsh to pursue a 5 year B. E. program in Petroleum Engineering at Indian School of Mines, Dhanbad starting from the current session 2016-17. ONGC Videsh is sponsoring 15 students (five from Mozambique\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/ongc-videsh_2.jpg?fit=406%2C319&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1419"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1419\/revisions"}],"predecessor-version":[{"id":3658,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1419\/revisions\/3658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/847"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}