ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), has signed its Memorandum of Understanding (MoU) for 2025-26 with the Maharatna parent company. The agreement reinforces their collaboration to strengthen India’s presence in international oil and gas exploration.
Strengthening India’s Energy Future
The annual MoU sets fresh performance targets and strategic priorities for ONGC Videsh. It focuses on enhancing exploration, production, and investment in overseas oil and gas projects. This initiative aligns with the Government of India’s larger goal of securing energy resources abroad to meet the rising domestic demand.
OVL’s collaboration with ONGC is a critical step in ensuring energy diversification, reducing import dependency, and building long-term supply security.
Expanding Global Presence
ONGC Videsh has steadily expanded its global footprint with projects across Latin America, Africa, Russia, and Asia-Pacific. By leveraging ONGC’s technical expertise and financial strength, OVL is now aiming to enter new geographies and deepen its role in producing assets.
The MoU for FY 2025-26 also emphasizes innovation, adoption of clean technologies, and operational efficiency in international ventures. This reflects ONGC’s broader vision of balancing conventional hydrocarbon development with sustainability goals.
Commitment to National Energy Goals
India’s growing energy needs demand robust strategies for international engagement. Through ONGC Videsh, ONGC has built a portfolio of over 30 projects in 15 countries, ensuring access to critical oil and gas reserves. The renewed MoU demonstrates the continued effort to integrate overseas exploration with India’s energy security roadmap.
About ONGC Videsh Limited
ONGC Videsh Limited, a Navratna PSU, is the largest Indian international oil and gas company. Established as the overseas investment arm of ONGC, the company holds stakes in multiple hydrocarbon projects across the globe. With a focus on exploration, production, and equity oil and gas imports, OVL plays a key role in reducing India’s reliance on external sources while contributing to the nation’s long-term energy transition.
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