ONGC, PetroVietnam Ink 3-Yr Pact

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>State-run explorer Oil and Natural Gas Corp said on Wednesday its overseas investment arm has signed a three-year agreement with PetroVietnam for developing long-term cooperation in the oil sector.<br><br>The pact between ONGC Videsh and Vietnam's oil and gas agency covers new investments and strengthening presence from drilling-to-dispensing in Vietnam, India, and other countries, ONGC said in a statement.<br><br>ONGC Videsh, along with TNK-BP and PetroVietnam, has a stake in a gas field in the Nam Con Son basin, off Vietnam's south coast. In 2006, Vietnam had awarded two exploration blocks -- 127 and 128 -- in Phu Kanh basin to ONGC Videsh.<br><br>(Reuters)</p>