France’s Total ties up with ONGC after Exxon, Chevron
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Oil and Natural Gas Corporation (ONGC) has entered into a memorandum of understanding (MoU) with TotalEnergies, under which both the companies will exchange each other’s technical expertise in deep offshore, especially Mahanadi and Andaman.
After ExxonMobil and Chevron, French MNC TotalEnergies has entered into an initial agreement with state-run ONGC. Under this, Total public sector company will explore sources of oil and gas in Mahanadi and Andaman fields of ONGC. Oil and Natural Gas Corporation (ONGC) has entered into a memorandum of understanding (MoU) with TotalEnergies, under which both the companies will exchange each other’s technical expertise in deep offshore, especially Mahanadi and Andaman.
Following a decline in production from old fields and no major oil and gas discoveries in the recent past, ONGC is tying up with technically proficient foreign companies. ONGC had tied up with US giant ExxonMobil in August last year. The following month, ONGC entered into an agreement with Chevron New Ventures Limited, a subsidiary of California-based Chevron Corporation.
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