New Delhi, Jan. 28 -- Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) shares rose up to 8% on Wednesday's session (January 28), following the announcement that they entered into an agreement for resource sharing related to deepwater offshore exploration and production (E&P) activities along India's eastern coastline.

ONGC share price today was trading over 8% on BSE, while RIL share price today rose over 1%.

As per the filing, this arrangement will be especially focused on the Krishna Godavari basin and the Andaman offshore region. ONGC stated that this represents a significant advancement toward cost optimization, expedited execution, and enhanced asset utilization in complex deepwater initiatives.

ONGC stated...