New Delhi: ONGC Videsh has entered into a non-binding memorandum of understanding (MoU) with Petroleo Brasileiro SA as of Wednesday.
This MoU focuses on exploring opportunities in various sectors, including upstream activities, marketing, decarbonization, and low-carbon solutions, among others.
The agreement supports Petrobras' strategy to forge partnerships that facilitate risk-sharing and expertise exchange, aiming to enhance the company's position as an integrated energy entity while contributing to a fair and responsible energy transition, as stated by ONGC Videsh.
The signing ceremony was attended by Petrobras CEO Magda Chambriard and Hardeep Singh Puri, Minister of Petroleum and Natural Gas.
ONGC Videsh Ltd, a fully owned subsidiary of ONGC, stands as India's largest international oil and gas exploration and production (E&P) company, managing 32 assets across 15 countries.
