NEW DELHI: State-owned ONGC on Wednesday signed a HoA (Heads of Agreement) with US major ExxonMobil Corp for deepsea exploration in India’s east and west coasts.
The two companies will focus on the Krishna-Godavari and Cauvery basins in the eastern offshore and the Kutch-Mumbai region in western offshore areas, according to an ONGC statement.
The company did not elaborate on the nature of the partnership and if ExxonMobil will buy a stake in any of the blocks of ONGC.
