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ONGC mulls purchase of stake in Senegal oil field

Thursday, 09 Sep 2021
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The Oil and Natural Gas Corporation (ONGC) is exploring purchase of a significant minority stake in the USD four billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum.

The state-owned ONGC is discussing acquiring an interest of 20 percent to 40 percent in the field. Australia-based Woodside is working with Jefferies Financial Group Inc on the sale, which could also attract other suitors.
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