ONGC Videsh Ltd (OVL), the overseas arm of the state-run Oil and Natural Gas Corporation (ONGC) has lost an oilfield in Algeria. ONGC teamed up with Turkish Petroleum Corp (TPAO) and the United Arab Emirates' (UAE's) Dana Gas to bid for the Hassi Bir Rekaiz acreage in Algeria's latest licensing round.

OVL lost to a consortium of China National Offshore Oil Corp (CNOOC) and Thailand's PTTEP. Spain's Cepsa and Russia's Gazprom were the other bidders for the acreage. Hassi Bir Rekaiz in the Berkine Basin was relinquished by Australia's BHP Billiton after a 2005 award.

Algeria awarded three permits in its bid round for 10 exploration areas. France's Total with Portugal's Parte

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