OIL AND NATURAL GAS CORPORATION LTD. - Oil & Natural Gas Corporation Ltd reply to clarification sought by the exchange

The Exchange has sought clarification from Oil & Natural Gas Corporation Ltd with respect to the news item in Business Standard on December 11, 2014 titled "ONGC bags offshore block in New Zealand"<BR><BR>Oil & Natural Gas Corporation Ltd has replied stating "In this connection, we would like to clarify that ONGC Videsh has been awarded an Exploration block in Taranaki basin, New Zealand in the bidding round block offer-2014 by the Government of New Zealand. ONGC Videsh had submitted its bid for this exploration block in October 2014.<BR><BR>The exploration permit has been awarded to ONGC Videsh by Mr. Simon Bridges, Hon'ble Minister of Energy and Resources, Government of New Zealand at a formal ceremony held at Wellington in the Parliament on Tuesday, the 9th December 2014. The related news item was released in the official website of New Zealand Government (http://www.beehive.govt.nz/releases) on 9th December 2014 itself. This news item may have been picked by the independent reporters from the website and published."