India's OVL, YPF to boost cooperation
ONGC Videsh, the overseas arm of Indian state-owned ONGC, has signed a memorandum of understanding (MoU) with Argentina’s YPF to boost cooperation in the energy sector, the company said on February 9.
The MoU seeks to enhance cooperation between the two companies in the energy sector, including cooperation in the areas of exploration and development of upstream oil and gas opportunities, promote investment and cooperation, and forging closer ties between research and training centres.
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YPF is 51% owned by the Argentine government and is engaged in oil and gas exploration and production, being the largest shale operator outside of the US, and is also involved in transportation, refining and marketing of natural gas and petroleum products.
OVL currently has a stake in 32 oil and gas projects in 15 countries, spanning projects in various phases like exploration, development, producing, and pipeline.