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INDO Venezuela partnership goes a step further
29 July, 2010

The Corporate office of Petrolera Indovenezolana S.A. the joint venture between ONGC Videsh Ltd (OVL) and Petroleos de Venezuela S.A. (PDVSA), the national oil company of Venezuela was inaugurated on 16th July 2010 at El-Tigre, Venezuela. PDVSA holds 60% and OVL 40% participating interest in the joint venture which was formed in April 2008 and is currently producing about 35,000 barrels of crude oil per day from the San Cristobal field in the Orinoco belt of eastern Venezuela.

The inauguration ceremony was attended by all the Directors of Petrolera Indovenezolana. Mr SP Garg, Director(Fin) and Mr S Roychaudhury, Director(Com) of OVL, who are on the Board of Petrolera Indovenezolana attended the ceremony from OVL. The event was preceded with the playing of National Anthem of both the countries.


Mr Victor Salazar, President of Petrolera Indovenezolana addressed the gathering of professionals at the outset. He spoke highly of the cooperation between India and Venezuela and highlighted the fact that Indians and Venezuelans are working together towards a common goal which portrays a successful future for the Joint Venture.


Speaking on the occasion, Mr SP Garg, Dir(F) – OVL, emphasized the history of cordial bilateral relations with Venezuela starting with the historic visit of HE President of Venezuela, Mr Hugo Chavez to India in March 2005 when an agreement for cooperation in the Hydrocarbon sector was signed paving the way forward for formation of the Joint Venture. Mr Garg reminisced the contribution of two towering personalities of the modern times - Mahatma Gandhi and Simon Bolivar, El “Libertador” in India and Venezuela respectively, who not only guided successfully their respective Independence movements, but also shaped the evolution of the two as modern and democratic countries and therefore Venezuela was our natural partner in meeting the goals of economic development in both the countries. He went on to assure that OVL was fully committed for the all round development of San Cristobal project through technology transfer and other means and that he was sure that Petrolera Indovenezolana shall be able to produce oil to the tune of 40,000 barrels per day by the end of this year.


After the inauguration, there was a chorus performance directed by Mrs. Juanita de Zorrilla, and two beautiful songs were also performed by Ms Ankita Sahu, the daughter of Mr Arabinda Sahu, Drilling Manager from OVL.


Chorus



Ms Ankita Sahu


An art exhibition was also held on the occasion by Mr. Alarico Quinto and Mr. Oscar Aguilera (Ojas) “El maestro del Petroleo” (The Master of Oil). The speciality of the exhibition was that the paintings on canvas/ceramic were made with crude oil.



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