OVL in talks to buy stake in Tullow's $3.5 bn project

New Delhi: ONGC Videsh Ltd and Indian Oil Corporation (IOC) are in talks to acquire a stake in Tullow Oil's Lokichar oil field in Kenya.

Kenya's Cabinet Secretary in the Ministry of Energy Monica Juma in a tweet confirmed the talks.

"Received and held a meeting with H.E. Dr. Virandar Paul, Indian High Commissioner to Kenya alongside representatives from Indian Oil Corporation Limited, Mr. Hridesh Baindail- Executive Director Indian Oil Corporation Ltd, Mr. Sanjeev Tokhi - Executive Director - OVL," she tweeted.