ONGC and Norway’s Equinor Sign MoU for Clean Energy, E&P Collaboration
Oil and Natural Gas Corporation (ONGC) and Norwegian State-owned Equinor signed an MoU (Memorandum of Understanding) on 26th April 2022 for cooperation in the areas of Exploration and Production (E&P) and Clean Energy.
According to the terms of the MoU, the two entities will partner and collaborate in upstream, mid-stream and downstream E&P processes. They will also cooperate in the field of Clean energy by exploring low-carbon fuels, Renewable Energy (RE) options, Carbon Capture Storage (CCS) and Carbon Capture Utilization and Sequestration (CCUS) possibilities in India.
This MoU is valid for a period of two years.