ONGC’s overseas investment arm eyes assets in Africa, Latin America; signs pact with Argentina’s YPF

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), is eying exploration and production assets in Africa and Latin America.

OVL signed a memorandum of understanding (MoU) with YPF SA of Argentina on the sidelines of the India Energy Week in Bengaluru, a company statement said.

“The MOU seeks to enhance cooperation between the two companies in the energy sector, including but not limited to cooperation in the areas of exploration and development of upstream oil and gas opportunities, promote investment and cooperation, and forging closer ties between research and training centres,” it said.