ONGC along with a Vietnamese company is likely to begin joint exploration for oil in the South China Sea despite objections from the China Government.
ONGC-Videsh has got this assignment through an international bid. The Central Government of India, in October 2011, signed an agreement with Vietnam to expand and promote oil exploration in South China Sea. The China Government has been objecting to any activity in the South China Sea region including Indian oil exploration as it has territorial disputes with ASEAN countries like Vietnam and the Philippines.
Meanwhile, ONGC’s Unit I of gas based thermal project at Palatana in South Tripura will commence power generation by June 2012. Also, the company plans to set up Rs 500-crore gas based fertiliser unit at Khobal in North Tripura district.
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ONGC to set up urea manufacturing unit in Tripura (23-April-12)