Venezuela’s state oil company PDVSA is about to clinch a deal for India’s Oil and Natural Gas Corp to invest some $500 million in their San Cristobal joint venture, the South American company’s president said on Tuesday. “We’re about to firm up ONGC’s financing to the joint venture we have in the San Cristobal field,” Eulogio Del Pino, who is also Venezuela’s Oil Minister, told Reuters. He said the deal would be signed “soon.” The funds would go towards shoring up production at San Cristobal.
Source: Reuters.comIndia’s ONGC $500 mln San Cristobal investment deal imminent
Industry: Oil and Gas 2016-02-24
