(a) whether the Oil and Natural Gas Corporation Limited (ONGC) acquisition of a stake in Kazakhstan‘s
biggest oilfield has been blocked by the Government of Kazakhstan;
(b) if so, the details thereof;
(c) whether the blocking of ONGC’s stake in Kazakhstan’s biggest oilfield is going to have some adverse
effects on its financial dealings involved in it; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SMT. PANABAAKA LAKSHMI)
(a). Yes, Madam.
(b). OVL pursued the opportunity to acquire 8.4% interest of ConocoPhillips in the North Caspian Sea
Production Sharing Agreement (NCS PSA) that includes the Kashagan field in the Caspian Sea, Kazakhstan.
Although the bid of OVL was not pre-empted by the Co-venturers, the Government of Kazakhstan exercised
its priority right and pre-empted the bid by OVL to acquire the 8.4% stake of ConocoPhillips in the
NCS PSA.
(c). No, Madam.
(d). Does not arise in view of (c) above.