ONGC, Mitsui Sign MOU to Jointly Explore, Produce Hydrocarbons Globally

India's state-owned Oil and Natural Gas Corporation Ltd. (ONGC) announced Monday that a Memorandum of Understanding (MoU) has been signed between Indian Maharatna Public Sector Enterprise ONGC and Japanese conglomerate Mitsui & Co., Ltd. Jan. 24 in New Delhi, India. The agreement was signed by Masami Iijima, president and CEO of Mitsui & Co., Ltd. and Sudhir Vasudeva, chairman and managing director (CMD), ONGC. The MoU signing ceremony was attended by senior officials from both the companies.

The MoU provides for cooperation in Exploration and Production for conventional and unconventional petroleum and natural gas opportunities in India and in third countries.

In August 2012, ONGC and Mitsui had entered into an MoU for wide ranging cooperation in gas and LNG business. Later in March, 2013, Mitsui had entered into another MoU with ONGC, Bharat Petroleum Corporation Ltd. (BPCL) and New Mangalore Port Trust for feasibility study of a liquefied natural gas (LNG) Terminal at Mangalore, India.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours