Chevron confirmed that its wholly owned subsidiary, Chevron New Ventures, has entered into a memorandum of understanding (MOU) with India’s Oil and Natural Gas Corporation (ONGC) to assess the exploration potential across a number of basins in India, the company told Energy Voice. “We look forward to working with ONGC,” …
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Sakhalin-1 is operated by Exxon Neftegaz Ltd. through which ExxonMobil owns 30 percent in the project.
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In the meantime. other foreign companies are welcome to discuss their interest in the gas field.
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India’s plan to merge some state-held oil enterprises could reduce inefficiencies in the sector.
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ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field. while Oil India has 20 percent.
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