ONGC Videsh Signs MoU with Petrobras to Explore Upstream, Decarbonization, and Low-Carbon Solutions

New Delhi: ONGC Videsh Ltd. has signed a non-binding Memorandum of Understanding (MoU) with Brazilian energy giant Petrobras (Petroleo Brasileiro SA) to explore potential collaborations in upstream oil and gas, marketing, decarbonization, and low-carbon energy solutions.

The agreement, signed on Wednesday, aligns with Petrobras’ strategic vision of forming partnerships that enable risk-sharing and expertise exchange while strengthening its position as an integrated energy enterprise. The collaboration is also aimed at advancing a fair and responsible energy transition, focusing on sustainable and low-carbon initiatives.

The signing ceremony was attended by Magda Chambriard, CEO of Petrobras, and Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas.

A Step Towards Strengthening Global Energy Collaboration

The MoU between ONGC Videsh and Petrobras is expected to pave the way for potential joint ventures and knowledge-sharing initiatives in offshore exploration and production, as well as advancements in clean energy and carbon reduction strategies. This move comes at a time when global energy companies are increasingly focusing on sustainability and emissions reduction while continuing to meet growing energy demands.

The agreement reinforces India’s commitment to enhancing its energy security by expanding its presence in global markets. As a key player in international energy exploration and production, ONGC Videsh is actively seeking partnerships that help diversify its portfolio and leverage cutting-edge technologies in oil, gas, and renewable energy sectors.

About ONGC Videsh

ONGC Videsh Ltd. is the wholly owned overseas arm of India’s Oil and Natural Gas Corporation (ONGC). It is the country’s largest international oil and gas exploration and production (E&P) company, with 32 assets across 15 countries. The company has played a crucial role in securing India’s energy needs through strategic investments in oil and gas exploration projects worldwide.

Looking Ahead

This partnership is expected to unlock new business opportunities for both ONGC Videsh and Petrobras, fostering cooperation in critical areas such as deepwater exploration, enhanced oil recovery, and sustainable energy development. As global energy markets evolve, this collaboration marks another step towards ensuring secure, efficient, and environmentally responsible energy production.

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