State-run upstream majors Oil India Limited (OIL) and Oil & Natural Gas Corporation Limited (ONGC) on Friday signed a Memorandum of Understanding (MoU) at India Energy Week 2026 in Goa to explore potential collaboration in oil and gas exploration. The MoU was signed in the presence of Shri Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, Shri O. P. Sinha, Director (Exploration), ONGC, and Shri Saloma Yomdo, Director (Exploration & Development), OIL, along with senior officials from both companies.
The agreement was formally inked by Shri Dinesh Singh, Chief General Manager (Geology), ONGC, and Shri D. S. Manral, Executive Director (E&D), OIL. The MoU establishes a structured framework for technical collaboration and evaluation of partnership opportunities in oil and gas exploration, particularly under the Open Acreage Licensing Policy (OALP) Round X and future bid rounds across Indian sedimentary basins. Officials said the collaboration aims to leverage combined expertise to enhance exploration efficiency and support India’s energy security goals.