Halliburton & ONGC Ink 5-Year Deal
Halliburton's Energy Services Group and Oil & Gas Natural Corporation Ltd. (ONGC) have entered into a five-year Memorandum of Understanding to pursue services and support opportunities in India.
ONGC's Chairman Subir Raha said: "This Memorandum of Understanding provides ONGC with easy access to Halliburton's technologies, experiences, and management practices and processes for application in ONGC's field and centers. At the same time, the MoU will open up additional commercial opportunities for Halliburton technologies and services."
Hemant Shah, Halliburton's business development manager for India, said: "Halliburton is pleased to have the opportunity to participate in this alliance and to provide technological solutions for deepwater operations and development of mature assets for ONGC."
Activities under the MoU include recovery and production optimization and reservoir management; marginal field development; frontier basins; deepwater; logistic management; data and information management; joint study center for innovation and proprietary solutions; logging services; and production optimization for ONGC reservoirs through integrated project management.
- Halliburton Upbeat On 2018 As Oil Recovery Spreads (Jan 22)
- Halliburton Posts International Revenue Growth, Unlike Schlumberger (Oct 23)
- Halliburton CEO Defends Fracking Business as Margins Disappoint (Oct 23)
Company: ONGC more info
Operates 41 Offshore Rigs
Manages 8 Offshore Rigs
- Venezuela's PDVSA To Tap Oil Customers To Pay $449MM To ONGC (Nov 15)
- Sources: India ONGC Strikes 'Good' Offshore Oil, Gas Find (Sep 20)
- India To Acquire Seismic Data Of 48,000 Line kms To Boost Oil, Gas Output (Sep 12)