India's ONGC may supply crude from Azeri field to MRPL-exec

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ONGC has acquired a minority stake from Hess in the oil producing Azeri field in Azerbaijan.

The move will help MRPL, an ONGC subsidiary, which has recently expanded capacity, in replacing some of the oil it used to buy from Iran, as western sanctions aimed at curbing Tehran's nuclear program disrupt shipments.

A company source who did not wish to be identified said ONGC's share of equity oil from the Azeri field would average 18,500 barrels per day (bpd) in 2012.

This source said ONGC along with IOC (IOC.NS) and Oil India (OILI.NS) has submitted a $5 billion bid for some ConocoPhillips (COP.N) oil sands assets in Canada.

(Reporting by Nidhi Verma; Editing by Jo Winterbottom)

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