NEW DELHI / WAM
A landmark agreement signed in February between the UAE and India expanding their bilateral energy relationship has started bearing fruit. India’s state-owned oil exploration company, ONGC Videsh Ltd (OVL) annou-nced receipt of the first tranche of equity oil cargo from Abu Dhabi’s Lower Zakum oilfield.
A shipload of Das blend crude oil has reached New Mangalore port, the company said in a statement. An agreement in February granted a 10% concession in the Lower Zakum field to an Indian consortium, led by OVL.