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ONGC plans a partnership with TotalEnergies

Sunday, 22 Jan 2023

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Oil & Natural Gas Corpn (ONGC) is planning to tie up with French giant TotalEnergies in the exploration and production of oil and gas in the Andaman Islands.

The company is also seeking opportunities for tie-ups with prominent players in exploration and production, as well as carbon capture, among other state-run energy majors.

The Centre has been ambitious with the National Island Exploration Project, seeking to reduce its import dependence on crude oil in a volatile global market scenario.

The company has signed an agreement with American oil and gas major ExxonMobil for deepwater exploration at India’s east and west coasts in August 2022. The company expects to firm up the partnership by March-end 2023.

The Maharatna company is also seeking to join leading players in production and exploration along with carbon capture.