ONGC, ExxonMobil sign pact for deepwater exploration
Indian state-owned ONGC has signed a heads of agreement with US major ExxonMobil for deepwater exploration off the east and west coasts of India, the Indian government said on August 17.
The collaboration areas focus on the Krishna Godavari and Cauvery basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.
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“There has been a scientific exchange of exploration data in the last few years, which has led to this partnership,” the government said. “Collaboration between ONGC and ExxonMobil will be a strategic fit where ONGC’s knowledge and past experience in these areas will be coupled with ExxonMobil’s global insights.”
ONGC had signed a memorandum of understanding with ExxonMobil in 2019 to undertake joint technical studies and to co-operate in frontier areas.