ONGC and Shell Energy India Forge MoU for Deepwater Exploration and LNG Sourcing
ONGC and Shell Energy India have signed a non-binding MoU to explore deepwater oil and gas opportunities and LNG sourcing, aiming to bolster India's energy security and resource development. This collaboration aligns with India's objective to increase natural gas consumption amid rising energy demand.
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On August 10, 2026, ONGC and Shell Energy India signed a non-binding memorandum of understanding to explore joint opportunities in deepwater oil and gas exploration and LNG sourcing. The agreement encompasses potential collaboration across India's energy sector, including participation in offshore blocks under the Open Acreage Licensing Policy (OALP) and future bidding rounds.
The companies will assess opportunities in OALP Rounds X and XI and explore farm-in and farm-out arrangements on existing ONGC blocks. This partnership aims to leverage ONGC's domestic expertise and Shell's global capabilities to enhance energy availability and secure LNG supplies as India transitions to a gas-based economy. The agreement allows for identification and evaluation of potential projects but does not commit either party to specific investments.
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