OVL produces oil from Carabobo field

In a move that may increase crude oil production of ONGC, the state-owned oil explorer's overseas arm, ONGC Videsh (OVL) began production from its Carabobo oilfield in Venezuela oil-rich Orinoco Belt. The asset is operated by a JV firm Petrocarabobo, set up in Venezuela in June 2010, in which OVL has 11 per cent stake. Oil India and Indian Oil Corp have 3.5 per cent stake each.   Contact: ONGC Videsh Ltd. Tel: 011-2373 0368. Fax: 011-2373 0369. Website: www.ongcvidesh.com