Indian-Vietnamese Oil-Project ONGC Joins Hands with PVE for Offshore Oil
Oil and Natural Gas Corporation Ltd (ONGC) has signed a Memorandum of Understanding (MOU) with Petrovietnam Exploration Production Corporation (PVEP), a wholly owned subsidiary of Vietnam Oil and Gas Group (Petrovietnam), for mutual cooperation for exploration in the NELP Blocks of ONGC in Andaman and Cauvery Basins
New Delhi/India - The MOU was signed by Chairman & Managing Director, ONGC, Dinesh K Sarraf and President & CEO, PVEP, Dr. Do Van Khanh. On the other hand, ONGC Videsh Limited also signed a Heads of Agreement (HOA) with PVEP for mutual cooperation for exploration in Blocks 102/10 & 106/10 of PVEP and Block 128 of ONGC Videsh in offshore Vietnam.
Both the MOU and the HOA were exchanged in the gracious presence of visiting Prime Minister of Vietnam H.E. Nguyen Tan Dung and Hon'ble Prime Minister of India, Narendra Modi at New Delhi.