ONGC inks deepwater MoU with TotalEnergies

March 6, 2023
ONGC and TotalEnergies aim to establish a holistic framework between the two for exchange of each other’s technical strengths in deepwater offshore, especially Mahanadi and Andaman.

Offshore staff

INDIA  ONGC has inked a memorandum of understanding (MoU) with TotalEnergies to establish a holistic framework between the two for exchange of each other’s technical strengths in deepwater offshore, especially Mahanadi and Andaman, according to a March 6 ONGC post on Twitter.

Last year ONGC signed heads of agreement with Exxon Mobil for deepwater exploration on the country's east and west coasts. The tie-up with Exxon focuses on the Krishna Godavari and Cauvery basins in the eastern offshore region and the Kutch-Mumbai region in the western offshore area.

Exxon is also keen to buy a stake in some of the local deepwater blocks of ONGC, former oil secretary Tarun Kapoor said, according to a Reuters report.

Last month ONGC discovered gas with a well in the Mumbai Offshore (SW) region. The MBS171HAA-1 (MBS171HAA-A) well in OALP block MB-OSHP-2017/1 flowed 145, 093 cu. m/d from the Panna Formation at a depth of ~3,800 m. This is the deepest recorded presence of a commercial hydrocarbon pool in the sector, the company said.

Also last month, ONGC Videsh, ONGC’s overseas division, signed an MoU with Argentina’s YPF. The MoU covers a cooperation between the two companies in the energy sector, including exploration and development of upstream oil and gas opportunities and research/training centers.

03.06.2023

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