India's ONGC hopes to get rights to operate 2 Venezuelan oil projects in six months

MarketScreener · Reuters · 2026-11-06 12:40 UTC

India's top explorer Oil and Natural Gas Corp hopes to get rights to operate two Venezuelan oil projects in three to six months as it is in advanced talks with the Venezuelan and US authorities, its...

NEW DELHI, Nov 6 (Reuters) - India's top explorer Oil and Natural Gas Corp hopes to get rights to operate two Venezuelan oil projects in three to six months as it is in advanced talks with the Venezuelan and US authorities, its head of finance Anupam Agarwal said on Friday on an analyst call.

o ONGC Videsh, the overseas investment arm of ONGC, has over $500 million in pending dividend from its stakes in the two projects: San Cristobal and Carabobo 1 field

o The pending dividend from the two projects will be adjusted after the new operatorship agreements are finalised, Agarwal said

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