NEW DELHI (Reuters) - ONGC Videsh has adopted a ‘wait and watch’ policy on investment in Iran’s gas field, the company’s co-managing director said.
The company sees South Sudan project’s oil output rising to 20,000 barrels per day (bpd) of oil by end 2018 from 7,000-8,000 bpd now.
ONGC Videsh sees gas production for Mozambique project in 2022, and hopes to invest $1 billion in existing project in 2018/19.
ONGC Videsh has received government communications to list the company.
Reporting by Nidhi Verma; Editing by Mark Potter