ONGC Teams Up with Shell to Boost Deepwater Exploration

State-owned Oil and Natural Gas Corporation (ONGC) has announced that it 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 government has stepped up efforts to expand domestic deepwater and ultra-deepwater oil and gas exploration through the Samudra Manthan programme, which aims to encourage exploration in India's offshore areas.