NEW DELHI (Reuters) -ONGC Videsh (OVL) Ltd, the overseas exploration arm of India’s Oil and Natural Gas Corp, is looking for exploration and production investment opportunities in Africa and Latin America, such as in Ghana and Surinam, managing director Rajarshi Gupta said.
The company already has a presence in both continents through stakes in projects in Mozambique, Brazil and Venezuela among others.
“It’s better to invest in bigger hot spots where you can get larger discoveries… Africa and Latin America still hold a lot of potential. Ghana is there, Suriname is there, all of the continental shelf. Brazil is also an interesting proposition,” Gupta told reporters at the India Energy Week in Bengaluru.
