August 11, 2026: State-run Oil and Natural Gas Corporation (ONGC) and Shell Energy India have signed a non-binding memorandum of understanding (MoU) to explore opportunities in deepwater and ultra-deepwater oil and gas exploration as well as liquefied natural gas (LNG) sourcing.

The agreement included a framework for the two companies to assess potential areas of cooperation across India's energy sector. It does not commit either side to a specific investment or project.

Deepwater exploration in focus

Under the agreement, ONGC and Shell Energy India will explore joint participation in deepwater and ultra-deepwater offshore blocks offered under the government's Open Acreage Licensing Policy (OALP).

(Source: Economic Times)