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    India's ONGC in talks with global majors for deepwater exploration


The company has held talks with ExxonMobil and Equinor.

by: Shardul Sharma

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India's ONGC in talks with global majors for deepwater exploration

Indian state-run Oil and Natural Gas Corporation Limited (ONGC) is in talks with global energy majors to infuse state-of-the-art technologies in its exploration push in deepwaters of India, the country’s petroleum and natural gas said on February 6.

ONGC held discussions with global majors during India Energy Week in Bengaluru. The company held talks with ExxonMobil, Norway’s Equinor, Baker Hughes, the French research organisation Institut Français du Pétrole on various issues like technology, and deepwaters.

“The world is now getting balanced, as deep-sea investments are becoming economical,” ONGC CEO Arun Kumar Singh said.

“The transition to renewables is a reality, however, oil and gas will remain in focus in the journey. It will happen eventually,” he added.

Singh said that ONGC is not only looking at deepwater oil and gas exploration, but also enhanced oil recovery, boosting renewables capacity, building carbon capture, utilisation and sequestration capabilities, and hydrogen.