Gazprom Neft, ONGC Videsh sign MOU

Gazprom Neft and ONGC Videsh Ltd. have signed a memorandum of understanding to cooperate on offshore hydrocarbon production projects in Russia and elsewhere in the world.

Offshore staff

ARKHANGELSK, RussiaGazprom Neft and ONGC Videsh Ltd. have signed a memorandum of understanding to cooperate on offshore hydrocarbon production projects in Russia and elsewhere in the world.

The parties have expressed their intent to exchange best technical, production, and commercial practices regarding field development in theArctic and on Sakhalin Island, as well as to explore possible use of these at license blocks owned by Gazprom Neft.

The memorandum envisages a study on both companies’ individual experience in conducting geological prospecting and hydrocarbon production at offshore fields in the regions of mutual interest for both companies.

03/31/2017

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