ONGC Videsh's eyes on two Venezuela oil projects; know what finance head Anupam Agarwal said on $500 mn dividend
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ONGC Videsh expects to secure operatorship of two Venezuela oil projects within three to six months.
- ✓Finance head Anupam Agarwal said on Friday that $500 million in pending dividends will be adjusted once new agreements are finalised.
- ✓The company hopes these deals will give them better control over field operations.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Oil and Natural Gas Corporation Limited (ONGC) finance head, Anupam Agarwal, reportedly said on Friday that ONGC Videsh's (OVL) pending $500 million in dividends from two projects in Venezuela are likely to be adjusted once new operator agreements are finalised.
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.
Venezuelan oil projects
India's top explorer ONGC hopes to secure rights to operate two Venezuelan oil projects within three to six months, as it is in advanced talks with Venezuelan and US authorities, its head of finance, Anupam Agarwal, said on Friday during an analyst call.
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