RAJYA SABHA
ONGC-Videsh Limited
(OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation
Limited (ONGC) set up for exploration and production activities
overseas, has envisaged foreign exchange inflow of about US$
1,260 Million (Rs. 6,174 crore approximately) during the Tenth
Five Year Plan period. This inflow would come from its projects
in offshore Vietnam and Sakhalin (Russia) besides the projects
in countries like Algeria, Iraq and Venezuela expected to materialise
in this period.
During the Ninth
Plan period, foreign exchange earnings of OVL were Rs. 26.46
crore from its Vietnam Project and of ONGC were Rs. 349.86 crore
on account of its naphtha export, drilling contracts in Bangladesh
and other miscellaneous income.
The above information
was given by the Minister of State for Petroleum & Natural
Gas, Shri Santosh Gangwar, today in the Rajya Sabha in a written
reply.
