ONGC inks MoU with Mitsui for co-operation in pursuing gas opportunities

Oil and Natural Gas Corporation and Japanese conglomerate Mitsui & Co., Ltd have signed a memorandum of understanding for co-operation in petroleum sector. Masami Iijima, President and CEO of Mitsui & Co., and Sudhir Vasudeva, CMD, ONGC, signed the agreement for exploration and production of conventional and unconventional petroleum and scouting natural gas opportunities in India and in other countries.

In August 2012, ONGC and Mitsui had entered into an MoU for wide ranging cooperation in gas and LNG business. Later in March, 2013, Mitsui had entered into another MoU with ONGC, BPCL and New Mangalore Port Trust for feasibility study of a LNG Terminal at Mangalore.

Mitsui is a diversified and comprehensive trading, investment and service enterprises in the world. Utilising its global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in iron & steel products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, Innovation & Corporate Development Business.