Vietnam offers two more exploration blocks to ONGC Videsh.

Vietnam has offered two more exploration blocks to state-run ONGC Videsh (OVL) in addition to the five already offered, government and industry official said.

The company has selected only one of the five blocks that were offered in November, and will assess the two new blocks also. All the blocks have been offered to the company without competitive bidding.

'We are planning to visit Vietnam soon with our interest in at least one block. Based on the outcome of preliminary examination of data, we may also express interest in the two other blocks recently offered by the country,'one official said requesting anonymity.

OVL is currently operating two blocks in the country, one is producing gas and the other is still at the exploratory phase. It had relinquished one Vietnamese block about two years ago.

The company is also looking for an equity partner to jointly explore the Block-128, which is controversial because of the territorial dispute between China and Vietnam over rights over the South China Sea, where it is located, a company executive said. OVL has 100% participating interest.

ET