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ONGC Videsh & GeoPark Announce Atrategic Latin American Acquisition Partnership

Source: www.gulfoilandgas.com 2/26/2018, Location: South America

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ONGC Videsh, the wholly-owned subsidiary and international arm of Oil and Natural Gas Corporation Limited (ONGC), India’s national oil company, and GeoPark, the Latin American oil and gas explorer, operator and consolidator, have announced the formation of a new long-term strategic partnership to jointly acquire, invest in, and create value from upstream oil and gas projects with the objective of building a large-scale, economically-profitable and risk-balanced portfolio of assets and operations across Latin America. Latin America is one of the most attractive regions in the world for oil and gas investments, and has an immense hydrocarbon resource potential.

ONGC Videsh and GeoPark will form a joint Business Development Group – headquartered in Bogota, Colombia. Jointly, the companies intend to leverage the platforms, experience and strengths of each company and to create a long-term successful partnership in Latin America to achieve their expansion objectives. The agreement was signed by Mr. Narendra K. Verma MD & CEO from ONGC Videsh and Mr. James F. Park, CEO from GeoPark on February 16, 2018 at ONGC Videsh, Delhi.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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