India's ONGC $500m San Cristobal Investment Deal Imminent

Source: Reuters 2/24/2016, Location: South America

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.

"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.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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