India’s ONGC Videsh to pump $150 million into Colombia

ONGC Videsh, India’s state-run oil company, plans to invest $150 million in exploration this fiscal year to drill more wells in Colombia, where it just made a commercial discovery, as well as in Kazakhstan and Bangladesh.

ONGC Videsh, which operates the CPO-5 block of Colombia, has made a commercial discovery in its exploration well Mariposa-1, managing director Narendra Verma has said.

Source: Economic Times