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ONGC and Reliance agree to share deepwater resources and vessels to cut delays and boost India’s energy security.
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.
The deal, aligned with the 2025 Oilfields Amendment Act, allows vessels with government clearances to move freely between their operations, streamlining logistics.
The collaboration, signed during India Energy Week 2026, supports India’s energy security goals and follows a prior joint bid in 2024.
Both companies’ shares rose up to 8% on the news, driven by optimism over improved efficiency and rising global crude prices.
ONGC y Reliance acuerdan compartir los recursos y buques de aguas profundas para reducir las demoras y aumentar la seguridad energética de la India.