ONGC, Exxon in pact to develop offshore acreage

New Delhi, October 15 

Energy giant ExxonMobil will help state-owned ONGC develop oil and gas resources off east and west coasts, particularly in deep sea. ONGC signed a MoU with the US giant, the company said. 

“This MoU will enable the two petroleum companies to undertake joint technical studies and cooperate in frontier areas like deep water and other petroleum exploration licence (PEL) blocks of ONGC in east and west coast and open acreage for joint bidding,” it said. — PTI