ONGC Says It Will Sign Deals to Operate Two Venezuelan Oil Blocks Under New Law
Oil and Natural Gas Corp (ONGC) said it expects to formalize agreements with Venezuela to assume operatorship of two oil blocks under Caracas' new petroleum law. The firm, through overseas arm ONGC Videsh, already holds stakes in the San Cristobal and Carabobo-1 projects and said recent changes reduce prior sanctions-related constraints.