Norsk Hydro, ONGC to jointly explore oil in Angola

New Delhi, Nov 2 (UNI) Oil and Natural Gas Corporation (ONGC) along with Norway's Norsk Hydro today agreed to jointly explore oil blocks in Angola where the Company has 50 per cent participation.

MOUs between ONGC and Norsk Hydro also include joint work at Arnan field in Iran where the Norwegian company has 50 per cent stake for the development of the field.

OVL has also offered Norsk hydro partnerships in two exploratory deep water blocks in Cuba.

Norsk Hydro has agreed to provide detailed exploitation technology for the development of thin oil off Vasai east and Bassein Field of westernm India.

In developing ONGC fields in KG Basin, Norsk Hydro has agreed to provide assistance for its development on service based contracts.

Speaking after the MOUs were signed with Norway, Petroleum and Natural Gas Minister Murli Deora said that exploration of hydrocarbons, including aggressively pursuing extensive exploration in non-producing and frontier areas, is a major thrust for the government.

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