New Delhi, March 2: In its first breakthrough in the energy-rich Arabian Gulf, ONGC Videsh (OVL) today clinched a deal for the prospective Najwat Najem oil acreage off the Qatar coast, pipping a dozen companies to the post. The acquisition comes close on the heels of the Egypt deal.

The appraisal, development and production sharing agreement for Najwat Najem oil structure was signed between the government of Qatar and OVL today at Doha.

Abdulla Bin Hamad Al-Attiyah, Qatar's second deputy Prime Minister and minister of energy, and OVL chairman Subir Raha inked the deal.

The 120 square kilometres Najwat Najem oil structure is located in the Arabian Gulf at a distance of about 100 km north-east of Doha. The oil structure was discovered several years ago and requires appraisal.

The terms of this agreement call for an initial two years appraisal and based on the results, the development and production project will be carried out. This discovered field, to be connected to Halul Island for processing and export, will be operated by OVL.