ONGC inks MoU with Mitsui

1/27/2014

ONGC inks MoU with Mitsui

NEW DELHI, India -- An MoU has been signed between Indian Maharatna Public Sector Enterprise ONGC and Japanese conglomerate Mitsui & Co., Ltd.

The MoU was signed on January 24, 2014, in New Delhi, India. The agreement was signed by Mr. Masami Iijima, president and CEO of Mitsui & Co., Ltd. and Mr. Sudhir Vasudeva, CMD, ONGC. The MoU signing ceremony was attended by senior officials from both companies.

The MoU provides for cooperation in exploration and production, for both conventional and unconventional petroleum and natural gas opportunities, in India and in third countries.

In August 2012, ONGC and Mitsui entered into an MoU for wide ranging cooperation in gas and LNG business. In March 2013, Mitsui entered into another MoU with ONGC, BPCL and New Mangalore Port Trust for a feasibility study of a LNG terminal at Mangalore.

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