ONGC Partners with Shell to Explore Deepwater Oil and Gas Opportunities

State-owned 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, signed on August 10, 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, as well as potential farm-in and farm-out arrangements involving ONGC's existing OALP blocks.