Oil and Natural Gas Corporation (ONGC) and Reliance Industries have signed an agreement to share resources, including supply vessels used in oil and gas exploration and production.

The memorandum of understanding (MoU) was signed during the India Energy Week (IEW), as confirmed by Pankaj Kumar, ONGC’s Director (Production). The pact aims to boost operational efficiency, accelerate offshore project execution, and strengthen synergies between the two. The firms, with adjacent fields and operations, particularly off the east coast, will jointly utilise resources, infrastructure, and technical expertise to minimise duplication of efforts, optimise capital spending, and expedite the development of crucial offshore assets.

This collaboration marks the second partnership between ONGC and Reliance in recent years, following their joint bid in 2024 for the GS-OSHP-2022/2 offshore block in the Saurashtra Basin under the OALP bid round IX. ONGC and Reliance sign MoU for resource-sharing to boost offshore energy projects