Oil and Natural Gas Corporation (ONGC) and Shell Energy India Private Limited signed a Memorandum of Understanding (MoU) to explore collaboration opportunities across India’s energy sector. The partnership brings together ONGC’s extensive experience in India’s offshore oil and gas industry and Shell’s global technical and operational expertise. Together, the companies aim to support deeper exploration, strengthen energy availability and contribute to India’s long-term energy security.
Partnership Targets Deepwater and Ultra-Deepwater Blocks
As part of the upstream oil and gas collaboration, ONGC and Shell Energy India will explore opportunities for joint participation in deepwater and ultra-deepwater offshore blocks. The companies will particularly assess opportunities across upcoming and existing exploration areas, including OALP Round X and XI offshore blocks, future bidding rounds under the Open Acreage Licensing Policy (OALP), potential farm-in and farm-out opportunities in ONGC’s existing OALP blocks and opportunities emerging from the government’s broader Samudra Manthan initiative.
Collaboration Supports India’s Energy Security
The proposed collaboration could help accelerate exploration in India’s offshore basins while bringing together complementary technical capabilities and industry experience. Deeper exploration could help unlock additional domestic oil and gas resources, thereby supporting India’s efforts to improve energy availability and reduce dependence on imported hydrocarbons.
MoU Creates Framework for Future Opportunities
The MoU establishes a framework for ONGC and Shell Energy India to evaluate potential projects and identify areas of mutual business interest. The companies will assess opportunities based on their technical, commercial and strategic potential. As reported by indianmasterminds.com, through this partnership, both organisations aim to explore new avenues in India’s offshore energy sector while supporting the country’s evolving energy requirements.
