New Delhi: The Oil and Natural Gas Corporation (ONGC) has left Sudan’s oilfield. The company made this decision due to the refusal to pay after taking oil from the African country. A top company official said that ONGC Videsh Limited (OVL) as well as its Chinese partner CNPC and Malaysia’s Petronas have also divested themselves from the block.
OVL had a 25 percent stake in Blocks 2A and 4 in Sudan, while CNCP had 40 percent and Petronas had 30 percent. Budapest of Sudan had a five percent stake in the block. Sudan had not paid OVL and its partners in the block since 2011. The official said that OVL’s total dues on Sudan are the US $ 43.06 million. He said the company initiated arbitration proceedings against the government of Sudan to recover dues and scrapped the EPSA.
