Rovuma Area-1 : ONGC Videsh Ltd hold 30% interest
Q. Rovuma Area-1 in which ONGC Videsh Ltd hold 30% interest is in -- Published on 28 Dec 15a. Kazakhstan
b. Myanmar
c. Venezuela
d. Mozambique
ANSWER: Mozambique
- About 75 trillion cubic feet of natural gas reserves found in offshore Rovuma Area-1, where Indian firms led by ONGC Videsh Ltd hold a total of 30 per cent stake
- An estimated USD 18.4 billion will be required to bring first set of discoveries in Rovuma Area-1 on to production and convert that gas into liquid (liquefied natural gas or LNG) for ease of shipping to consuming nations like India.
- OVL had in 2013 bought Videocon's 10 per cent stake in the Rovuma Area-1 for USD 2.475 billion.
- Rovuma Area-1 Offshore Mozambique Block (Block Area 1) is located along the coasts of northern Mozambique and southern Tanzania in the Indian Ocean.
