ONGC Videsh has signed a non-binding Memorandum of Understanding (MoU) with Brazil’s Petroleo Brasileiro SA (Petrobras) to assess new opportunities in upstream exploration, marketing, decarbonization, and low-carbon solutions.
The agreement aligns with Petrobras’ strategy to form partnerships that share risks and expertise. It strengthens its position as an integrated energy company and promotes a fair and responsible energy transition.
Strategic Collaboration for Energy Transition
By working together, ONGC Videsh and Petrobras aim to leverage their technical knowledge and operational experience. This partnership supports Petrobras’ goal of sustainable growth while contributing to the global shift toward cleaner energy solutions.
MoU Signing
The MoU signing took place in the presence of Petrobras CEO Magda Chambriard. India’s minister of petroleum and natural gas, Hardeep Singh Puri, was also present.
The presence underscored the importance of this collaboration in strengthening bilateral energy ties between India and Brazil.
ONGC Videsh: Expanding Global Presence
As one of India’s largest international oil and gas exploration and production (E&P) company, ONGC Videsh operates 32 assets across 15 countries.
As reported by theprint.in, the new agreement reinforces its commitment to expanding its global footprint and exploring sustainable energy solutions.
