ONGC, Shell Energy India Sign MoU For Deepwater Exploration

Oil and Natural Gas Corp (ONGC) and Shell Energy India Private Ltd have signed a non-binding memorandum of understanding to explore joint opportunities in deepwater oil and gas exploration and liquefied natural gas sourcing. The agreement was signed on August 10, 2026, and covers potential collaboration across India's energy sector.

The partnership will focus on two key areas of mutual business interest: upstream oil and gas, and liquefied natural gas. In the upstream sector, the companies will explore joint participation in deepwater and ultra-deepwater offshore blocks offered under the government's Open Acreage Licensing Policy (OALP), as well as future bidding rounds.

ONGC and Shell Energy India will also explore opportunities in OALP Rounds X and XI under the broader Samudra Manthan initiative, as well as potential farm-in and farm-out arrangements involving ONGC's existing OALP blocks. The memorandum does not commit either company to specific investments or projects and provides a framework for evaluating potential areas of cooperation.

The agreement with Shell builds on ONGC's recent efforts to bring international expertise into India's deepwater exploration programme. In August 2022, ONGC signed a Heads of Agreement with ExxonMobil to collaborate on deepwater exploration on India's eastern and western coasts. ONGC has also signed memorandums of understanding with global majors, including ExxonMobil and Chevron, for deep- and ultra-deepwater exploration.

The partnership brings together ONGC's position as India's largest oil and gas explorer with Shell's global expertise across upstream exploration and LNG, potentially creating opportunities for cooperation across both domestic exploration and gas supply. The upstream component comes as India seeks to accelerate exploration of its offshore resources and attract investment and technical expertise into more challenging deepwater and ultra-deepwater acreage.

Under the proposed collaboration, the companies could participate jointly in future offshore licensing rounds and assess opportunities to bring additional partners into existing ONGC blocks through farm-in and farm-out arrangements. The LNG component could also become significant as India seeks to increase gas consumption while meeting rising energy demand and diversifying its fuel supply.

The collaboration is expected to contribute to India's energy security and help the country meet its growing energy needs. With the partnership, ONGC and Shell Energy India aim to explore new opportunities in the energy sector and create value for both companies.

In conclusion, the memorandum of understanding between ONGC and Shell Energy India is a significant development in India's energy sector. The partnership has the potential to accelerate exploration of India's offshore resources, attract investment and technical expertise, and contribute to the country's energy security.

The agreement is also a testament to the growing importance of international collaboration in India's energy sector. As the country seeks to meet its growing energy needs, partnerships like the one between ONGC and Shell Energy India will play a crucial role in shaping the future of India's energy landscape.

Overall, the partnership between ONGC and Shell Energy India is a positive development for India's energy sector, and it is expected to have a significant impact on the country's energy security and economic growth.

The collaboration will help to strengthen India's position in the global energy market and provide new opportunities for growth and development. With the partnership, ONGC and Shell Energy India are well-positioned to play a leading role in shaping the future of India's energy sector.

In the coming years, the partnership is expected to yield significant benefits for both companies and contribute to India's energy security. The collaboration will also help to promote economic growth and development in the country, and it is expected to have a positive impact on the environment.

The partnership between ONGC and Shell Energy India is a significant step forward for India's energy sector, and it is expected to have a lasting impact on the country's energy landscape.