Source Pravda.Ru

ONFC Videsh Buy Talisman's 25% Greater Nile Stake

ONGC Videsh Ltd., will buy Talisman Energy Inc.'s 25% stake in the Greater Nile Oil Project in Sudan for about US $750 million, the Press Trust of India reported. "OVL will buy Canadian Talisman Energy's 25% in the Greater Nile Oil Project, negotiations for which have been completed," an unnamed source was quoted as saying.

The investment has been cleared by the Indian government's Empowered Committee of Secretaries and would now be put before the Cabinet for final approval. The Greater Nile Oil Project consists of four blocks in the Muglad Basin and a 1,500-kilometer pipeline from the producing fields to Port Sudan on the Red Sea. Talisman's stake in the project represents 10% of its overall production.

China National Petroleum Corp. holds 40% of the project, Petronas owns 30%, and Sudapet owns the remaining 5%.

Visit to

&to=http://www.talisman-energy.com/' target=_blank>Talisman-Energy

&to=http://www.ongcvidesh.com/' target=_blank>ONGC Videsh

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA

Putin made his first public comment on the subject of the recent decision of US President Donald Trump to recognise Jerusalem as the capital of Israel

Putin makes first comment on Trump's Jerusalem decision
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