ONGC eyes acquisitions in developing world

ONGC eyes acquisitions in developing world


New Delhi: State-run Oil and Natural Gas Corp today said it is looking for acquisition of oil and gas properties in Latin America, CIS (Commonwealth of Independent States) countries and West Coast Africa.

“There is hunger for growth and the appetite is huge," ONGC Chairman R S Sharma said today.

“We are looking for quality acquisitions. We are not going here, there and everywhere. We are going on a concentrated way," he added.

ONGC is looking for exploration and producing properties and is in talks for a couple of acquisitions, he said but did not divulge details.