ONGC, Oil Indian Bid for Mozambique Gas Field Stake

India's state owned energy firms ONGC, through its overseas arm ONGC Videsh, and Oil India Ltd have bid for Anadarko Petroleum and Videocon’s 20 percent stake in a Mozambique gas field, a source directly involved in the matter told Reuters.

The source did not disclose the likely bid, the new agency said.

Anadarko is planning to reduce its stake in block 1 of the Rovuma offshore field to 26.5 percent in order to share the cost of developing the project. Videocon is also looking to sell its 10 percent stake.

On Thursday, Eni sold its 20 percent stake in Mozambique offshore project to China's CNPC for $4.21 billion.