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What’s New?

  • MOU with M/s Mitsui Japan, an internationally renowned LNG player, on 14.8.2012 for co-operation in LNG Business and its entire Value Chain.
    • Pre-feasibility study for setting up land based Terminal /FSRU at Mangalore in final stages.
  • New Mangalore Port Trust and BPCL also joined with ONGC and Mitsui at Mangalore and a new MoU was signed on 18.03.2013 in the presence of Hon’ble Minister for P&NG.
  • ONGC is already in the LNG business in India although indirectly as a founder co-promoter of Petronet LNG Ltd. (PLL), India’s pioneering LNG importing and distributing entity.
  • ONGC’s international arm, OVL, is constantly evaluating various opportunities abroad in the upstream sector :
    • agreements with Videocon Mauritius Energy Limited to acquire shares in Mozambique Rovuma 1 Limited.
    • agreements with Anadarko Moçambique Area 1 Limitada (“Anadarko”) to acquire a direct 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique.
    • Also in discussions with shipping companies for LNG transportation.