Epic Update : Oil and Natural Gas Corporation’s

Oil and Natural Gas Corporation’s (ONGC) – 100% subsidiary – ONGC Videsh (OVL) has inked a memorandum of understanding (MoU) with Venezuelan state giant PDVSA (Petróleos de Venezuela S.A.), on October 09, 2013 in Caracas. The MoU encompasses strategic cooperation and participation in the exploration and production of hydrocarbon resources in the oil-rich Faja area of Venezuela.

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