ExxonMobil looks at picking up stake in ONGC's deep sea fields
Financial Express Mumbai|October 23, 2021
GLOBAL OIL MAJOR ExxonMobil is looking to buy a stake in some of the local deepwater fields of Oil and Natural Gas Corp (ONGC), oil secretary Tarun Kapoor said on Friday.
NIDHI VERMA

India, the world's third-biggest oil importer and consumer, ships in about 85% of its oil needs from overseas and has been scouting for partnerships with global oil majors to quickly monetise its reserves.

“They (Exxon) are in talks to invest in deep see exploration (assets) around Andamans (on India's east coast). They are evaluating data,”Kapoor told Reuters.

ONGC chairman Subhash Kumar, earlier on Friday said that his company was looking for strategic partnerships to develop its difficult deepwater oil and gas fields.

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