Oil and Natural Gas Corporation Limited (ONGC) on Tuesday signed a Memorandum of Understanding (MoU) with Equinor ASA, the Norwegian state-owned multinational energy company in New Delhi for collaboration and partnership in areas of Exploration and Production and Clean energy options.
The MoU was signed during the visit of a high-level delegation of Norway to India.
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, Norwegian Foreign Minister Anniken Huitfeldt, ONGC CMD Dr Alka Mittal and Executive Vice President of Equinor Irene Rummelhoff were present on the occasion, an official statement said.
Equinor is the leading operator on the Norwegian continental shelf, present in around 30 countries worldwide.
As per the agreement, both ONGC and Equinor will collaborate with each other in the field of upstream oil and gas, midstream, marketing and trading, besides exploring further options in low carbon fuel, renewables, Carbon Capture Storage (CCS) as well as Carbon Capture Utilization and Sequestration (CCUS) opportunities in India, the statement said.
The MoU is valid for two years under which both companies have agreed to work together in the areas identified, the statement further said. (ANI)