ONGC Videsh said on Wednesday that the company has won an exploration block in the 2014 bidding round in New Zealand.
The company had bid for the offshore basin in the Taranaki offshore basin in October 2014.
With this block, ONGC Videsh's presence spans 17 countries in 36 projects.
Commenting on the occasion, NK Verma, MD & CEO of ONGC Videsh, expressed satisfaction at the outcome of the bidding and stated that ONGC Videsh’s maiden entry into the hydrocarbon province of Taranaki offshore basin in New Zealand shall provide an opportunity to explore interesting hydrocarbon potential in the region and act as a foothold for greater participation in the Far-East region.