Sudan govt wants ONGC Videsh to withdraw arbitration process -Governance Now

Sudan govt wants ONGC Videsh to withdraw arbitration process

ONGC Videsh says it is eager to work with Sudan to find a solution to clear outstanding dues

GN Bureau | August 24, 2018

#ONGC #ONGC Videsh #Sudan #PSU

A Sudanese ministerial delegation recently paid a visit to ONGC Videsh office in New Delhi to discuss key issues on outstanding dues.

The delegation apprised the ONGC Videsh that the government of Sudan is making sincere efforts to mitigate the issue of default on payment dues to the latter. It was informed the Sudanese government is optimistic about the improvement in economic situation henceforth with the recent agreement it reached with the government of South Sudan on resumption of crude oil transportation from South Sudan territory through the Heglig-Port Sudan pipeline. The visiting delegation requested ONGC Videsh to withdraw the arbitration process instituted against the Sudanese government.

ONGC Videsh expressed its happiness for the positive response from Sudan and stated that the corporation is always ready to work with Sudan to find a workable solution to clear the outstanding dues. It was further informed by ONGC Videsh that keeping the legal intricacies in view, the arbitration process can continue while both sides work together on suitable mechanism of resolving the issues.

As sought by the delegation, ONGC Videsh agreed to depute a team of officials to Sudan for initiating techno-commercial discussions afresh so as to workout way forward for settlement of previous dues. The discussions with the Sudanese side are presently ongoing.

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