The BP's distressed asset sale of Non Con son project will be this time a litmus test for the MoPNG.Because in the last 12-18 months CNPC with the strong support from the chinese govt outbid ONGC everywhere for the acquisition of Hydrocarbon assets. But this time the Indian Govt is pro-active and started the diplomatic effort well in time to facilitate the Process. The petroleum Minister with the top brass from oil majors are in Vietnam for discussing the matter with vietnamese govt officials. The British prime Minister is coming to India shortly. So the stage is set for a perfect launchpad for ONGC. Make PetroVietnam a partner for bidding and lobby for BP's asset when David Cameroon will be in India. The indian govt must ensure that the deal does not slip away from its hand to the chinese this time. This will be the perfect answer to the chinese who are more interested in investing in the hydrocarbon assets of our neighboring countries like Mynamar.The acquisition will make clearly the strategic sense as the asset is nearer to China. This acquisition will open up more opportunities for OVL to invest in the Hydrocarbon assets of Vietnam in the controversial resource rich South China Sea where china will unlike to see India. That will be really interesting to watch how China behaves after that by seeing India in its own backyard. Good Luck Team India.
rightly said..!!
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