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flag ONGC and Reliance agree to share deepwater resources and vessels to cut delays and boost India’s energy security.

flag ONGC and Reliance Industries signed an agreement to share deepwater offshore resources and infrastructure, including supply vessels, along India’s east coast, aiming to reduce duplication, cut approval times, and accelerate project execution. flag The deal, aligned with the 2025 Oilfields Amendment Act, allows vessels with government clearances to move freely between their operations, streamlining logistics. flag The collaboration, signed during India Energy Week 2026, supports India’s energy security goals and follows a prior joint bid in 2024. flag Both companies’ shares rose up to 8% on the news, driven by optimism over improved efficiency and rising global crude prices.

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