{"id":2009,"date":"2014-11-06T13:24:32","date_gmt":"2014-11-06T12:24:32","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=2009"},"modified":"2015-09-07T13:08:17","modified_gmt":"2015-09-07T13:08:17","slug":"ongc-videsh-ready-to-buy-tullow-oil-african-assets-in-kenya-or-ghana","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/ongc-videsh-ready-to-buy-tullow-oil-african-assets-in-kenya-or-ghana\/","title":{"rendered":"ONGC Videsh ready to buy Tullow Oil African Assets in Kenya or Ghana"},"content":{"rendered":"

India\u2019s overseas investment arm of Oil and Natural Gas Corp ONGC Videsh might be looking into farming into Tullow Oil assets in Ghana and Kenya according to news reports by online.wsj.com<\/a> attributed to ONGC\u2019s director of exploration Anil Bhandari and Reuters<\/a> who quote an anonymous source.<\/p>\n

The need to buy the assets is necessitated by the growing demand by India for oil especially in what the source calls politically less countries as deemed by the world\u2019s fourth largest oil consumer.<\/p>\n

Other geographical locations in the eyes of ONGC include North America, Canada and Mexico.<\/p>\n

This revelation comes even as Africa Oil the joint partner with Tullow in blocks 10BB and 13T saying it might be relinquishing about half of its interest in Kenya in the next two years to recover its exploration costs.<\/p>\n

In June Tullow Oil and Africa Oil indicated they might be preparing for a farm out<\/a> as they seek to bring on a partner to help develop Lokichar Basin reserves currently pegged at 1.29 billion barrels according to the latest estimates by the Canadian explorer.<\/p>\n

In May a Citibank report had warned that Tullow Oil could be entering into dangerous levels of debt that had the levels to delay oil production in East Africa if a farm does not happen a view according to experts may push the explorer into selling some of its interest.<\/p>\n

There has however been no timeline to date by both Tullow Oil and Africa Oil as to when such a farm-out may occur.<\/p>\n

National explorer National Oil Corporation of Kenya has also indicated it will back in<\/a> blocks 10Bb and 13T part of the production sharing agreement that allows the government to participate should any discovery be made by acquiring some equity on the block in question despite not having invested in exploration.<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s overseas investment arm of Oil and Natural Gas Corp ONGC Videsh might be looking into farming into Tullow Oil assets in Ghana and Kenya according to news reports by … 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":[70,259,266,388,671,1121,1252,1445,1560,1759,1853,1912,2571],"class_list":["post-2009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-africa-oil","tag-block-10bb","tag-block-13t","tag-canada","tag-east-africa","tag-india","tag-kenya","tag-lokichar-basin","tag-mexico","tag-north-america","tag-oil-and-natural-gas-corp","tag-ongc-videsh","tag-tullow-oil","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-wp","jetpack-related-posts":[{"id":12519,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-could-india-be-eyeing-blocks-10bb-13t\/","url_meta":{"origin":2009,"position":0},"title":"KENYA: Could India Be Eyeing Blocks 10BB & 13T?","author":"","date":"July 29, 2022","format":false,"excerpt":"After weeks of speculation of an Indian company entering the Kenyan upstream sector scene accompanied by media reports of an Indian oil refiner eyeing the Lokichar basin a meeting between Kenya's Minister for Petroleum and Mining Dr. Ambassador Monica Juma Executive Director Indian Oil Corporation Hridesh Baindail and Executive Director\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Indian-Oil-Corporation.jpg?fit=680%2C453&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Indian-Oil-Corporation.jpg?fit=680%2C453&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Indian-Oil-Corporation.jpg?fit=680%2C453&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2272,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-to-cut-jobs-as-oil-price-slump-continues\/","url_meta":{"origin":2009,"position":1},"title":"Tullow Oil to cut jobs as oil price slump continues","author":"Samuel Kamau Mbote","date":"January 13, 2015","format":false,"excerpt":"Tullow Oil has said it is planning to cut costs through a reduction of its workforce according to an unnamed source quoted by Reuters. In the article by Reuters the source says he or she expects a smaller company in the coming months although no percentage or number was disclosed.\u2026","rel":"","context":"In "Top News"","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\/tullow-oil.png?fit=385%2C255&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13443,"url":"https:\/\/www.oilnewskenya.com\/index.php\/is-africa-oil-losing-faith-in-kenyan-venture\/","url_meta":{"origin":2009,"position":2},"title":"Is Africa Oil Losing Faith in Kenyan Venture?","author":"","date":"March 14, 2023","format":false,"excerpt":"Whereas South Lokichar's basin Project Oil Kenya has significantly featured in Africa Oil main assets highlights since 2012 this seems to have changed in the last seven months. This is despite hope that the project that is in urgent need for financing ahead of the field development plan approval and\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Kenya-Turkana-Rig.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Kenya-Turkana-Rig.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Kenya-Turkana-Rig.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9080,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-tullow-oil-jv-receives-1-year-license-extension-on-blocks-10bb-and-13t\/","url_meta":{"origin":2009,"position":3},"title":"KENYA: Tullow Oil, JV Receives 1 Year License Extension on \u00a0Blocks 10BB and 13T","author":"","date":"September 9, 2020","format":false,"excerpt":"Blocks 10BB and 13T joint venture partner Africa Oil Corp. has announced that an extension has been granted by the Government of Kenya on\u00a0 the south Lokichar blocks. \u00a0Under the terms of the extension, the Joint Venture partners have the right to extend the second exploration period for the 10BB\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Block-10BB-13T-pipeline.png?fit=406%2C360&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4864,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-receives-3-year-license-extension-in-kenyas-blocks-10bb-13t\/","url_meta":{"origin":2009,"position":4},"title":"Tullow Oil Receives 3 Year License Extension in Kenya\u2019s Blocks 10BB, 13T","author":"","date":"July 27, 2016","format":false,"excerpt":"Tullow has announced it has reached an agreement with the Government of Kenya to extend the exploration period for Blocks 10BB and 13T in South Lokichar to 18 September 2020 with the earlier extension set to expire in July and September 2017. This announcement comes as the company expects to\u2026","rel":"","context":"In "Top News"","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\/2015\/11\/Block-10BB-13T.png?fit=361%2C351&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9512,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-tullow-oil-receives-licence-extension-for-blocks-10bb-13t\/","url_meta":{"origin":2009,"position":5},"title":"KENYA: Tullow Oil Receives Licence Extension for Blocks 10BB\/13T","author":"","date":"December 8, 2020","format":false,"excerpt":"Tullow Oil has announced that Tullow and its Joint Venture partners have received extensions to their exploration licences for Blocks 10BB and 13T in Kenya to the end of 2021. This follows the approval of the work programme and budget for next year by the Ministry of Mines and Petroleum.\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/Block-10BB-13T-pipeline.png?fit=406%2C360&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\/2009","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=2009"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2009\/revisions"}],"predecessor-version":[{"id":3557,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2009\/revisions\/3557"}],"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=2009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=2009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=2009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}