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India's ONGC Videsh says wins 2 blocks in Brazil

Wed Nov 28, 2007 10:33pm EST

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MUMBAI, Nov 29 (Reuters) - India's ONGC Videsh Ltd, an overseas arm of Oil and Natural Gas Corp (ONGC), has won two exploration blocks in Brazil, the company said in a statement issued late on Wednesday.

ONGC (ONGC.BO) said it had picked up Block 470, a deepwater block in the Espirito Santos basin, and another in shallow waters in the Santos basin. It did not reveal financial details.

ONGC Videsh is present in 29 oil and gas projects spread over 15 countries and is spearheading India's quest for securing energy security through overseas equity oil.

(Reporting by Hiral Vora, Editing by John Mair)



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