New Delhi: Flagship Explorer ONGC and British Energy Major BP Plc on Monday Signed A Framework Mou (Memorandum of Understanding) to Explore Partnerships in Oil and Gas Projects In India and Internationally, Giving a MUCH-NEEDED Leg-up for India's Pitch for Investments at the India Energy Week Beginning Here on Tuesday.
The mou come within a month of ONGC Selecting BP as a Technical Service Provider for Raising output from its flagship Mumbai high oil and gas field. The focus of the collaboration will be on exploration and production as well as trading, besides other sector of the energy sector, the company said after signing the mou in the presence of Oil Meenister Hardep Singh Prurisi.
The companies see scope for bidding for offshore account for India's open account Licensing Program (Oalp) Rounds in Partnership with their respective partners. In addition, the companies see potential for collaborating in Deep-India Expos, Enhancing Production and Optimising Management of OGC's Maturing Fields.
The mou envisages Value-Creation through Strategic Collection in Trading and Other Areas, Such as Carbon Sequestration. The mou is valid for three years, during both parties will work togeether in the identity area of collaboration.
“ONGC and BP have agreed to explore options for collaboration and partnership across the energy industry in India and internationally, focused on oil and gas expenses and principle Energy vectors, “A Statement said.
(Tagstotranslate) ONGC and BP MOU (T) Oil and Gas Projects (T) India Energy Week 2023 (T) Exption and Production Collection (T) BP OGC Partnership
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