Oil and Natural Gas Corporation (ONGC) and Shell Energy India Pvt Ltd have entered into a non-binding Memorandum of Understanding (MoU) to explore potential collaboration in deepwater and ultra-deepwater oil and gas exploration, along with opportunities for liquefied natural gas (LNG) sourcing.
The agreement establishes a framework for the two companies to evaluate opportunities across India’s energy value chain, without creating any immediate financial or investment commitment for either party.
A key focus will be offshore exploration under the government’s Open Acreage Licensing Policy (OALP). ONGC and Shell Energy India will assess the possibility of jointly participating in deepwater and ultra-deepwater blocks offered through the ongoing OALP Rounds X and XI, as well as future licensing rounds.
The companies will also examine opportunities under the broader Samudra Manthan initiative and explore potential farm-in and farm-out arrangements involving ONGC’s existing OALP acreage. Such arrangements could enable the participation of additional technical and operational expertise in selected offshore assets.
The proposed partnership comes as India seeks to expand domestic exploration and accelerate the development of offshore oil and gas resources. ONGC has been pursuing partnerships with international energy companies to strengthen capabilities in technically challenging deepwater and ultra-deepwater environments.
The collaboration will also extend to LNG sourcing. With India seeking to increase the contribution of natural gas to its energy mix, the two companies will assess potential avenues for securing LNG supplies and strengthening gas availability.
The partnership brings together ONGC’s extensive presence in India’s upstream oil and gas sector with Shell’s international experience in offshore exploration and LNG. The proposed areas of cooperation are aimed at creating greater synergies across the energy value chain while supporting domestic resource development, energy availability and long-term energy security.