India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA

ONGC Videsh seeks operatorship of Venezuela oil blocks after securing US licence

ONGC Videsh Ltd recently secured a license from the US Office of Foreign Assets Control, giving it “full freedom” to operate in Venezuela

India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA

India’s ONGC is poised to take over operation of two Venezuelan oil projects from state-owned PDVSA, which would give the Indian producer direct operational control over assets of the world’s largest proven crude oil reserves. Reuters exclusively reported Wednesday that ONGC expects to sign new agreements “very soon” under Venezuela’s new petroleum law after years of limiting its activities because of U.S. sanctions. Speaking during ONGC’s June-…

ONGC can operate 2 Venezuela oil blocks; regained stake in Sakhalin-1 project in Dec 25

Oil and Natural Gas Corporation (ONGC) is constantly looking for picking up stakes in oil fields abroad and/or operate oil blocks in foreign countries. Through its overseas arm, ONGC Videsh this Indian PSU holds stakes in 32 oil and gas projects in 15 countries.