News: ONGC signed a Heads of Agreement (HoA) with ExxonMobil for deepwater exploration in Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.
View: The companies have exchanged exploration data over last few years that led to the partnership. With potential for deepwater exploration on the East coast, the management said that through the discovery route, ONGC is planning to move to development where partnership with ExxonMobil would be beneficial for efficient fast-track monetisation.
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