ONGC, Mitsui Team Up in Natural Gas Exploration Efforts

India’s oil and gas giant ONGC and Japanese conglomerate Mitsui & Co., Ltd.  have signed a Memorandum of Understanding which will provide for cooperation in Exploration and Production for conventional and unconventional petroleum and natural gas opportunities in India and in third countries.

 The deal was signed by Masami Iijima, President and CEO of Mitsui & Co., Ltd. and  Sudhir Vasudeva, CMD, ONGC. The MoU signing ceremony was attended by senior officials from both the companies.

In August 2012, ONGC and Mitsui had entered into an MoU for wide ranging cooperation in gas and LNG business. Later in March, 2013, Mitsui had entered into another MoU with ONGC, BPCL and New Mangalore Port Trust for feasibility study of a LNG Terminal at Mangalore.

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January 27, 2014