ONGC Unit Finds Oil In Block Off Qatar

ONGC Videsh Ltd., a unit of India's state-run petroleum exploration company Oil & Natural Gas Corp. (500312.BY), has discovered oil in an Arabian Gulf block off Qatar, the Economic Times reported Friday, citing an unnamed government source.

ONGC Videsh found the oil in the Najwat Najem block, of which it is the sole operator, but the size of the discovery isn't known, the report said.

The official said a second well would be completed in January, and that development of the block may proceed after that.

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