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BP 'targets ONGC tie-up'



By Upstream staff 

UK supermajor BP has put forward a propsal for a technical collaboration pact covering India's deep-water play with India's state-run Oil & Natural Gas Corporation (ONGC), according to local media.

A report published in the Financial Express this morning quoted a letter from BP to ONGC and India's Ministry of Petroleum & Natural Gas, said BP has also offered its expertise to ONGC for jointly undertaking the exploration and development of coalbed methane blocks held by ONGC.

In the lettrer, BP said the technical agreement with ONGC would help in building technical capability at ONGC, as BP would take ONGC's experts on board its exploration teams during the relevant exploration period and would ultimately transfer the technology to ONGC.

"To begin with, BP would like to review the Kutch basin through a joint study which would include BP acquiring new 2D seismic data at its own expense (up to $2 million)," the report quoted the BP letter as saying.


Thursday, 15 March, 2007, 12:35 GMT  | last updated: Thursday, 15 March, 2007, 12:35 GMT

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