Petroleum,Petroleum sector projects by ONGC Videsh Limited in
Project Information
4835
ONGC Videsh Limited
In A Step To Expand Its Presence In The Latam Region, ONGC Videsh, The Overseas Arm Of ONGC, Has Signed An Agreement With Petro Amazonas Ecuador To Take Up Exploration Activities In The Country. The Discussion For The Oil Exploration And Operation Deal Has Been Going On For A While As The Government Of Ecuador Is Seeking More Investments From The Indian Companies In Various Sectors, Including Defense, Pharmaceuticals, Petrochemicals, Food Processing, Oil Refineries And IT. The Project Aims To Produce 30,000 Barrels Per Day Of Crude Oil In The First Development Phase And 90,000 Barrels In The Second Phase. Ultimately, The Project Will Produce 400,000 Bpd (20 MT A Year) Of Crude Oil. The Project Is Operated By Petro Carabobo, A JV Set Up In Venezuela In June 2010 In Which OVL, The Overseas Arm Of State-Owned Oil And Natural Gas Corp. In January This Year, ONGC Videsh's Multi-Billion Dollar Carabobo Oilfield In Venezuela Started Crude Oil Production As Part Of Its Efforts To Address An Energy Shortage Threatening India's Economic Growth.
Project Value
Refer document
Pre Project Activities Underway
Not Specified
India
Petroleum,Petroleum
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