ONGC Videsh adopts `wait and watch` policy on Iran investment

ONGC Videsh has adopted a 'wait and watch' policy on investment in Iran's gas field, the company's co-managing director said.

The company sees South Sudan project's oil output rising to 20,000 barrels per day (bpd) of oil by end 2018 from 7,000-8,000 bpd now.

ONGC Videsh sees gas production for Mozambique project in 2022, and hopes to invest $1 billion in existing project in 2018/19.

ONGC Videsh has received government communications to list the company.

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