Oil and Natural Gas Corporation (ONGC) and BP have signed a Memorandum of Understanding (MoU) to explore collaborations in oil and gas exploration, production, trading, and other energy sectors both in India and globally. The agreement aims to enhance deep-water exploration, optimize mature fields, and facilitate joint bids for offshore acreage under India’s Open Acreage Licensing Program (OALP).
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The MoU was signed on February 10, 2025, in New Delhi, on the eve of India Energy Week, in the presence of Minister for Petroleum & Natural Gas Mr. Hardeep Singh Puri, Petroleum Secretary Mr. Pankaj Jain (1990-batch IAS officer), ONGC Chairman & CEO Mr. Arun Kumar Singh, and BP Executive Vice President Mr. William Lin, along with senior leaders from both organizations.
The partnership also covers strategic collaboration in energy trading and carbon sequestration. The three-year agreement will enable both companies to leverage their expertise, share best practices, and explore business opportunities in India’s evolving energy landscape.
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