Sudan has conceded in the arbitration tribunal that it owes ONGC Videsh $100 million for a pipeline built by the Indian company, setting the stage for a favourable award in the $530-million dispute that also includes claims over non-payment for oil lifted by the African government, according to people familiar with matter.
ONGC Videsh, the overseas arm of the state-run explorer, has been engaged in an arbitration with Sudan for over three years to recover its oil and pipeline construction dues. ONGC and its Chinese and Malaysian partners have already exited the oil blocks 2A and 4 in Sudan at the centre of the dispute.
