New Delhi: The first parcel of crude oil from a Sudan field where state exploration firm Oil and Natural Gas Corporation (ONGC) Videsh Ltd has taken stake recently, will arrive at the Mangalore port on May 15.

Deputy Prime Minister L K Advani will receive the first oil from Sudan's Greater Nile Oil Project (GNOP) at the Mangalore port.

Announcing this at the Parliamentary Consultative Committee meeting on May 7, Petroleum Minister Ram Naik said the event assumes great significance in view of the country's heavy import dependence and the strategic importance of uninterrupted supplies of petroleum products.

OVL, the overseas arm of Oil and Natural Gas Corporation, recently acquired 25 per cent interest in GNOP for $ 670 million, an investment which would guarantee India 3 million tonnes of crude oil annually from the producing field.

Two parcels totalling 600,000 barrels of crude will arrive at the Mangalore port this month - the first on May 15 and the second towards the end of this month. The crude would be processed by ONGC's subsidiary Mangalore Refinery.

Besides Advani and Naik, Karnataka Chief Minister S M Krishna and Minister of State for Petroleum & Natural Gas Santosh Gangwar would also be present at the venue to receive the shipment.

Naik also announced that the fourth round of bidding for oil and gas blocks under the New Exploration Licensing Policy would be launched on May 8. Similarly, the second round for Coal Bed Methane (CBM) exploration blocks would be launched on May 23.

PTI