ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation Ltd (ONGC) is focusing on various African countries such as Sudan, Congo, Nigeria, Libya, Ghana, Angola, Egypt and Uganda for acquisitions of oil and gas assets. The total investment for the current financial year up to January 2010 is estimated to be Rs 715 crore.

OVL, at present, has 11 projects in Africa. It holds 24.125 per cent stake in Block 5A in Sudan and 25 per cent in Sudan's Greater Nile Oil Project. OVL also holds 90 per cent operating interest in Khartoum-Port Sudan pipeline project, Sudan.

In Nigeria, OVL, through its joint venture with Mittal Investments, holds interests in two deepwater exploration blocks — OPL 279 and OPL 285. It also holds 13.5 per cent stake in deepwater Block-2 located in JDZ Nigeria-Sao Tome Principe. OVL holds 100 per cent interest in two blocks in Libya and 49 per cent in another exploration block there. It has interests in two blocks in Egypt.