3 weeks ago
ONGC, Shell Energy Sign MoU for Deepwater Exploration, LNG Sourcing
Two companies that look for oil and gas underneath the ground and ocean have decided to work together.
One is ONGC, India's biggest oil and gas company, which is owned by the Indian government.
The other is Shell Energy India, part of a big global energy company.
They signed a paper called a memorandum of understanding, which is like a promise to think about working together.
They want to explore very deep parts of the ocean where it is hard to find oil and gas.
They also want to work together on bringing natural gas, called LNG, to India.
This agreement is not a final deal because it does not promise any specific projects or money yet.
It is a first step to see how they can help each other.
India wants more natural gas in its energy mix and safer energy supplies.
By working together, the companies hope to find more energy for India's future.
ONGC and Shell Energy India signed a non-binding MoU on August 10, 2026, to explore collaboration in deepwater oil and gas exploration and LNG sourcing.
The MoU covers joint participation in deepwater and ultra-deepwater offshore blocks under OALP Rounds X and XI, part of the Samudra Manthan initiative.
The companies will also explore farm-in and farm-out arrangements involving ONGC's existing OALP blocks and future bidding rounds.
The memorandum does not commit either company to specific investments or projects.
The agreement follows ONGC's 2022 Heads of Agreement with ExxonMobil and its MoUs with ExxonMobil and Chevron for deepwater exploration.
- Who
- ONGC, India's state-owned largest oil and gas explorer, and Shell Energy India Private Ltd
- What
- Signed a non-binding MoU to explore collaboration in deepwater and ultra-deepwater oil and gas exploration and LNG sourcing in India
- Where
- New Delhi, India, covering India's energy sector
- When
- August 10, 2026
- Why
- To bring international expertise into India's deepwater exploration, support India's transition toward a gas-based economy, and strengthen long-term energy security
Key facts
- Companies
- ONGC and Shell Energy India Private Ltd
- Agreement
- Non-binding Memorandum of Understanding (MoU)
- Date Signed
- August 10, 2026
- Scope
- Deepwater/ultra-deepwater oil and gas exploration and LNG sourcing
- Licensing Rounds
- OALP Rounds X and XI under the Samudra Manthan initiative
- Further Areas
- Farm-in/farm-out arrangements in ONGC's existing OALP blocks and future bid rounds
- Prior Deals
- 2022 Heads of Agreement with ExxonMobil; MoUs with ExxonMobil and Chevron
- Commitment
- No specific investments or projects committed
Quotes
ONGC
India’s state‑owned oil and gas company
“By bringing together complementary capabilities and global expertise, the collaboration seeks to create new synergies across the energy value chain, supporting deeper exploration, greater energy availability and India’s long‑term energy security.”
freepressjournal.in
“Exploring deeper. Collaborating stronger. Powering India’s energy future.”
freepressjournal.in
Sources
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