OVL Finds Oil And Gas
- State-owned ONGC Videsh Ltd (OVL) has discovered oil and gas in its exploration blocks in Colombia and Brazil respectively.
- ONGC Videsh has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL-4, Brazil in the Sergipe Alagoas Basin.
- ONGC Videsh Ltd, the overseas arm of ONGC, has invested $28 billion in 41 projects across 20 countries and has probable reserves of 711.36 million tonnes of oil equivalent.
Source : Civil Services Chronicle Online, November, 2019