ONGC inks agreement with ExxonMobil for deepwater exploration in India

The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore

Indian oil explorer and producer Oil and Natural Gas Corp said on Wednesday it signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil Corp for deepwater exploration in India's East and West coasts.

The Heads of Agreement document was signed in the Ministry of Petroleum & Natural Gas by Rajesh Kumar Srivastava, Director (Exploration), ONGC and Monte K Dobson, CEO & Lead Country Manager, ExxonMobil India in the presence of Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas.

"The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region