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NEW DELHI, Dec 2 Asia Pulse - The state-run exploration firm, Oil India Ltd (OIL), has signed an agreement with Venezuela's Petroleos de Venezuela, S.A. (PDVSA) for oil exploration in the Baghewala oil field in Rajasthan.
Walter Marquez, Ambassador of Venezuela in India and OIL chairman and managing director R.K. Dutta signed the agreement for carrying out consultancy service/technical collaboration, including detailed geoscientific and reservoir engineering studies of Baghewala oil field, an official press release said.
The agreement would lead to pilot plant experiment for exploitation of heavy oil and bitumen with subsequent development plan and utilisation options.
Heavy oil and bitumen were discovered by OIL in 1991. OIL had been on the lookout for suitable technology since then. The heavy ...