ONGC Partners with Shell for Deepwater Exploration and LNG Sourcing
Oil and Natural Gas Corporation (ONGC) has signed a non-binding Memorandum of Understanding (MoU) with Shell Energy India Private Ltd to explore joint opportunities in deepwater oil and gas exploration and liquefied natural gas sourcing. The agreement was signed on August 10, marking a fresh step in international collaboration within India's upstream energy sector.
The MoU covers potential collaboration across India's energy sector, including joint participation in deepwater and ultra-deepwater offshore blocks offered under the government's Open Acreage Licensing Policy (OALP). ONGC and Shell Energy India will explore opportunities in OALP Rounds X and XI under the broader Samudra Manthan initiative.
The partnership will focus on two areas of mutual interest: upstream exploration, including deepwater and ultra-deepwater offshore blocks, and liquefied natural gas (LNG) sourcing to support India's transition toward a stronger gas-based economy. The MoU does not commit either company to specific investments or projects but establishes a framework for evaluating cooperation.