ONGC signs agreement with ExxonMobil for deepwater exploration in India

The Oil and Natural Gas Corporation (ONGC) has signed an agreement with ExxonMobil for deepwater exploration in the east and west coasts of India. The focus will be on the Krishna Godavari and Cauv­ery basins in the eastern offshore and the Kutch-Mumbai region in the western offsh­ore. There has been a scientific exchange of exploration data in the past few years, which has led to this partnership. The collaboration bet­ween ONGC and ExxonMobil will be a strategic fit where ONGC’s knowledge and past experience in these areas will be coupled with Exxon­Mobil’s global insights.