ONGC Partners with Shell for Deepwater Exploration and LNG Sourcing
Oil and Natural Gas Corp (ONGC) has signed a non-binding memorandum of understanding with Shell Energy India Private Ltd to explore joint opportunities in deepwater oil and gas exploration and liquefied natural gas sourcing. The agreement, announced on August 10, covers potential collaboration across India's energy sector.
The partnership aims to bring together ONGC's position as India's largest oil and gas explorer with Shell's global expertise across upstream exploration and LNG. This collaboration has the potential to create opportunities for cooperation across both domestic exploration and gas supply.
Under the proposed agreement, the companies could participate jointly in future offshore licensing rounds and assess opportunities to bring additional partners into existing ONGC blocks through farm-in and farm-out arrangements. The partnership also focuses on exploring LNG opportunities to support India's transition towards a stronger gas-based economy.