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ONGC to invest $200 million to revive Venezuela's San Cristobal output

Oil & Natural Gas logoOil & Natural Gas
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Oil & Natural Gas Corporation (ONGC) plans to invest about $200 million to revive the San Cristobal oilfield in Venezuela, a project it shares with PDVSA. ONGC Videsh holds a 40% stake. With the license secured, ONGC expects to boost output tenfold over the coming years and restore production toward a prior peak of up to 50,000 bpd.

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