Report summaryThe San Cristóbal field lies in the Junín Norte block in Venezuela's massive Orinoco Heavy Oil Belt (also as known as the Faja). PDVSA started production from the field around 1996.In 2008, India's ONGC signed a deal with PDVSA to form an empresa mixta, Petrolera Indovenezolana, to jointly develop the field. ONGC agreed to pay a signature bonus of US$173 million. The deal was ONGC's first involvement in Venezuela. It has subsequently increased its presence in the ...
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