India's ONGC to invite global partners for offshore oil, gas projects

Indian state-owned energy company Oil and Natural Gas Corporation (ONGC) is organising a roadshow in Abu Dhabi on October 16 and 17 to invite global oil and gas companies for collaboration opportunities in offshore oil and gas projects, it said on October 13. The roadshow will offer insights into business opportunities within India's offshore oil and gas infrastructure sector.

ONGC is embarking on an expedited development of multiple offshore fields over the next three years. Its objective is to establish more than 25 offshore facilities, lay over 1000 km of subsea pipelines, and create associated infrastructure, requiring an investment of $11bn.

The company is looking for global partners to collaborate on these projects. The roadshow in Abu Dhabi is an opportunity for interested companies to learn more about the projects and explore potential collaboration opportunities, ONGC said.

In pursuit of strategic growth aligned with the evolving energy landscape ONGC has designed a roadmap, the Energy Strategy 2040. This plan reflects its commitment to double oil and gas production, expand refining capacity, diversify into renewable energy, and bolster non-oil and gas ventures.

To achieve substantial growth and diversify its energy portfolio, the company is eyeing early monetisation of discoveries through accelerated project execution. It is also making investments in deepwater exploration, improved oil recovery, and enhanced oil recovery projects.