India's OVL secures 3-year extension for South China Sea block
ONGC Videsh (OVL), the overseas arm of India's ONGC, has secured a three-year extension for its exploration activities in Block 128 in the South China Sea, offshore Vietnam, ONGC announced on August 19 via X, previously known as Twitter.
“ONGC Videsh secures extension of three more years to explore in South China Sea's Block 128! India's strategic commitment stays strong as ONGC Videsh continues its exploration journey with its 8th extension till 15 June 2026,” the state-owned company said.
OVL had signed a production sharing contract with Vietnamese state-owned energy company PetroVietnam for Block- 128 in offshore PhuKhanh basin in 2006. The block lies in the part of the South China Sea over which China claims sovereignty.