Oil and Natural Gas Corp (ONGC) and Shell Energy India Private Ltd sign a non-binding memorandum of understanding to explore collaboration on deepwater oil and gas exploration and LNG sourcing, the companies announce. The MoU is signed on August 10, 2026, and does not commit either side to specific investments or projects.
The agreement outlines potential cooperation for offshore acreage under India’s Open Acreage Licensing Policy (OALP), including participation in future rounds such as OALP Rounds X and XI under the Samudra Manthan initiative. It also covers possible farm-in and farm-out arrangements involving ONGC’s existing OALP blocks. ONGC says the intent is to evaluate opportunities for joint participation in licensing rounds and to consider bringing additional partners into existing assets.
For the LNG component, the MoU focuses on assessing LNG sourcing options that could support India’s push toward a more gas-based economy and strengthen long-term energy security. Across outlets, the reporting characterizes the deal as an exploratory framework rather than a finalized commercial venture, with emphasis on combining ONGC’s upstream role and Shell’s LNG and global energy expertise.
