ONGC Teams Up with Shell for Upstream Oil and Gas Ventures

State-owned Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding (MoU) with Shell Energy India Pvt Ltd to explore collaboration opportunities in India's energy sector.

The MoU aims to focus on two key areas: upstream oil and gas, and liquefied natural gas (LNG).

Under the upstream oil and gas collaboration, ONGC and Shell will jointly participate in deepwater and ultra-deepwater offshore blocks offered under Open Acreage Licensing Policy (OALP) Rounds X and XI.

The companies will also explore farm-in/farm-out opportunities in ONGC's existing OALP blocks.