By IANS
New Delhi : ONGC Videsh Ltd (OVL) has won rights to explore two oil blocks in Brazil through international bidding, both in highly prospective basins of the country, the company said in a statement.
The first block, ES 470, is located in Espirito Santo basin, while the other is a shallow water block, SM 1413, in another highly prospective Santos basin, the statement noted.
For block ES 470, OVL beat competition from a consortium led by Petrobras and another consortium led by Perenco, while it outbid a combine of Petrobras and Ecopetrol for the other.
OVL already has a minority interest in Block BC-10, which is under development.
In Sep, OVL had won three blocks, one in consortium with Ecopetrol and Petrobras and two in consortium with Ecopetrol, in the Caribbean bid round of Colombia, of which it is the operator in two blocks.