State-run Oil India today said it hopes to seal an estimated $ 1 billion deal for acquisition of producing oil assets in Australia, South America and Africa in the near future.

"Definitely some opportunities are being evaluated and we are hopeful that something should click very soon," Oil India Director (Finance) T K Ananth Kumar told reporters here on the sidelines of an Assocham conference.

"It should be about $ 1 billion deal," he said, while clarifying that the assets were being evaluated.

Declining to name a particular region, Ananth Kumar said, "The company is looking in Australia, South America and part of Africa."

When asked about recent media reports that OIL, along with GAIL and ONGC, is looking to acquire Advent Energy of the Australia, he quipped, "It is even news for us."