OVL seeks 2-yr extension for exploring Vietnamese oil block in South China Sea

ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp (ONGC), has sought yet another two-year extension to explore a Vietnamese oil block in the contested waters of the South China Sea.

Officials said OVL has applied for a sixth extension to explore Block-128, the licence for which was valid till June 15, 2019.

While India wants to maintain its strategic interest in the South China Sea, Vietnam wants an Indian firm to counter China’s interventions in the contested waters.