ONGC, Shell sign MoU for deepwater exploration, LNG sourcing

ONGC and Shell Energy India have signed a non-binding MoU to explore joint opportunities in deepwater and ultra-deepwater oil and gas exploration, as well as LNG sourcing. The agreement, signed on August 10, covers potential participation in OALP Rounds X and XI and future bidding rounds under the Samudra Manthan initiative. It does not commit either company to specific investments.