MOU SIGNED BETWEEN ONGC AND Mitsui & Co., Ltd.

New Delhi, Jan 27 : An MoU has been signed between Indian Maharatna Public Sector Enterprise ONGC and Japanese conglomerate Mitsui & Co., Ltd. on 24th January, 2014 in New Delhi. The agreement was signed by Masami Iijima, President and CEO of Mitsui & Co., Ltd. and Sudhir Vasudeva, CMD, ONGC. The MoU signing ceremony was attended by senior officials from both the companies.

MoU signed by Masami Iijima, President and CEO of Mitsui & Co., Ltd. (2nd from left) and Sudhir Vasudeva, CMD, ONGC (right); ONGC Director (HR & BDJV) K S Jamestin (middle) applauds

The MoU provides for cooperation in Exploration and Production for conventional and unconventional petroleum and natural gas opportunities in India and in third 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