New Delhi, Jan. 28 -- During the ongoing India Energy Week, the state-owned Oil and Natural Gas Corporation (ONGC) on the first day of the event, signed a series of strategic agreements to strengthen the gas value chain in India, enhance exploration activities in the country, and optimise efficiency in complex offshore operations.
Officials said ONGC signed a Master Regasification Agreement (MRA) with Petronet LNG Ltd to facilitate the discharge and regasification of spot LNG cargoes at Petronet's Dahej terminal. The agreement is expected to enhance flexibility in the sourcing and marketing of spot LNG and ensure the timely availability of natural gas to consumers. The pact is part of ONGC's integrated gas strategy to ensure a reliable, competitive and resilient energy supply.
In upstream exploration, ONGC signed an MoU with GAIL to examine technical collaboration and partnership opportunities in future exploration bid rounds. The MoU was signed at ONGC's Advanced Training Institute in the presence of ONGC Director (Strategy & Corporate Affairs) Arunangshu Sarkar, Director (Exploration) Om Prakash Sinha and GAIL Director (Business Development) R.K. Singhal
ONGC also signed a similar MoU with Indian Oil Corporation Ltd (IOCL) to explore technical collaboration and partnership opportunities in future exploration licensing rounds. The agreement was signed in the presence of Sarkar, Sinha and IOCL Executive Director (E&P) A.K. Tiwari, reflecting growing coordination among public sector energy companies to leverage shared expertise in upstream exploration.
In offshore operations, ONGC entered into an agreement with Reliance Industries Ltd (RIL) to enable the sharing of resources for deepwater exploration and production activities on the East Coast, particularly in the Krishna-Godavari basin and the Andaman offshore area. The arrangement is aimed at optimising costs, improving execution timelines and enhancing resource utilisation in deepwater projects.
The agreement aligns with the Oilfields (Regulation and Development) Amendment Act, 2025, which provides a legal framework for sharing infrastructure and facilities among exploration and production companies. Under the framework, ONGC and Reliance plan to share offshore and onshore processing facilities, drilling platforms, marine support vessels, power infrastructure, and pipelines.
The agreements reflect the government's focus on enhancing energy security through domestic exploration and greater collaboration.
Published by HT Digital Content Services with permission from Millennium Post.