India's ONGC, TotalEnergies sign MoU
Indian state-run oil and gas explorer Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding (MoU) with French energy company TotalEnergies for deep-water exploration, the company announced on March 6 on Twitter.
“ONGC inks MoU with French multinational TotalEnergies to establish holistic framework between the two for exchange of each other’s technical strengths in deep-water offshore, especially Mahanadi & Andaman,” the state-owned company tweeted.
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ONGC’s director of exploration Sushma Rawat said that the companies will jointly evaluate exploration and development opportunities to create synergies with local economies.
“This collaboration shall lead to deployment of best practices and technology in offshore, to reduce greenhouse emissions for sustainable development,” Rawat said. “This strategic technology-driven collaboration will develop future cooperation for potential business in deepwaters of Bay of Bengal on mutually aligned purpose.”
ONGC Videsh, the overseas arm of Indian state-owned ONGC, recently signed MoU with Argentina’s YPF to boost cooperation in the energy sector.