ANGOLA      ALGERIA      CAMEROON      CHAD.      CONGO      EGYPT..      EQUATORIAL GUINEA      GABON      LIBYA.     NIGERIA      SOUTH AFRICA      SUDAN      TUNISIA      OTHERS 

Indian Oil Firms Consider to Acquire Assets in West Africa from Devon Energy

07-10-2007

 IOC and Oil India Ltd are planning to acquire the assets of Devon Energy in West Africa.

Devon Energy  owns interests in 16 blocks in various stages of production, exploration and appraisal in the region, most significantly an interest in the Exxon Mobil Corp operated Zafiro field in Equatorial Guinea.

The last date for submitting a bid is July 18.

A source closely involved in planning a possible bid told media that the two companies were "evaluating the data and would submit a bid if the data meets expectations."