The overseas arm of India's Oil and Natural Gas Corporation, ONGC Vadesh (OVL), has put forward plans to work alongside the Angolan state oil firm Sonongal and expand on offshore exploration effort in the African country.
Under the deal proposed by Indian petroleum minister Murli Deora at the recent World Petroleum Congress in Madrid, OVL would work to help development at up to ten separate offshore exploration blocks in order to help Angola build on its current production levels of around 1.8 million barrels per day and consolidate its position as the continent's top producer.
In addition, OVL would also offer training and development initiatives for Sonongal employees.
According to a statement released by OVL, Angolan oil minister, Desiderio da Graca Verissimo e Costa, is "open to consider such a proposal", particularly now that his country is looking to move on and rebuild after more than two decades of civil war.
The development comes just a couple of months after OVL offered to establish a centre of excellence in petroleum technology within Angola as well as a 300 MW power plant in return for a 30 per cent share of a new refinery. 