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ONGC Pulls Staff from Shut Oil Blocks in South Sudan

Source: Reuters 12/24/2013, Location: Not categorized

Oil and Natural Gas Corp(ONGC) has evacuated its employees from its operations in South Sudan, following violent clashes between groups supporting President Salva Kiir and rebel leader Riek Machar, two company officials said.

ONGC's overseas arm, ONGC Videsh, has a 25 percent stake in two joint-venture companies operating two oil blocks in South Sudan.

"The blocks are shut. So it made sense for us to evacuate our people as soon as possible," an ONGC Videsh official, who did not wish to be named, said. The two blocks, where ONGC Videsh has invested about $700 million, had resumed production in April after staying shut since January 2012 due to political unrest.

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