A consortium comprising India's Oil & Natural Gas Corp. (500312.BY), Oil India Ltd. (533106.BY) and Turkish Petroleum Corp. is likely to bid for exploration the Halfaya oil field in Iraq, under the country's second round of licensing this week, the Press Trust of India reported Wednesday, citing sources.
Turkish Petroleum will have a 50% interest in the consortium, ONGC's overseas arm ONGC Videsh Ltd. will hold 30% and Oil India the remaining 20%, the report said.
Russia's Gazprom (SIBN.RS) or Rosneft (ROSN.RS) may also join in Iraq's second post-war oil licensing bid around Dec. 11-12, the report cited sources as saying.
ONGC Chairman R.S. Sharma declined to comment on the bid when contacted by Dow Jones Newswires.