ONGC plans $200M investment to increase production at Venezuela's San Cristobal oilfield

India's ONGC Videsh Ltd intends to deploy $200 million to revitalize the San Cristobal oilfield, aiming for a tenfold increase in output alongside partner PDVSA. The move follows a recent licensing agreement, signaling a potential expansion of Indian energy interests in Venezuela despite ongoing international sanctions regimes.