India’s Oil & Natural Gas Corporation (ONGC) has teamed up with US supermajor ExxonMobil to work together ahead of upcoming licensing rounds in India.
The state-controlled giant and ExxonMobil signed a memorandum of understanding (MoU) this week to carry out technical studies and co-operate in offshore blocks.
“This MoU will enable the two petroleum companies to undertake joint technical studies and co-operate in frontier areas like deep water and other petroleum exploration licence blocks of ONGC in east and west coast and open acreages for joint bidding,” ONGC said.
