State-run Oil and Natural Gas Corporation (ONGC) said recently that it has signed a Memorandum of Understanding (MoU) with French multinational TotalEnergies to establish a holistic framework for the exchange of each other’s technical strengths in deep-water offshore, especially in the Mahanadi and Andamans.
This strategic, technology-driven collaboration will develop future cooperation for potential business in the deep waters of the Bay of Bengal for mutually aligned purposes, the oil and gas exploration and production major tweeted.
“We will jointly evaluate exploration and development opportunities to create synergies with local economies,” ONGC Director (Exploration) Sushma Rawat said.
This collaboration shall lead to the deployment of best practices and technology offshore to reduce greenhouse emissions for sustainable development, she added.
Recently, the Maharatna company said during the India Energy Week (IEW) 2023 it was in talks with global oil majors to infuse state-of-the-art technologies in its aggressive exploration push in the Deepwaters of India.
ONGC held discussions with the US oil and gas giant ExxonMobil, the Norwegian energy multinational Equinor, the US oil services conglomerate Baker Hughes, and the French research organisation Institut Français du Pétrole on various issues including technology and deep waters, it added.