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 joint venture firm Petrocarabobo, set up in Venezuela in June 2010 in which OVL has 11 percent stake. Oil India and Indian Oil Corp
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