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ONGC’s arm inks MoU with Equatorial Guinea

22 Jan 2016 Evaluate

Oil and Natural Gas Corporation’s (ONGC) overseas arm -- ONGC Videsh (OVL) has signed a memorandum of understanding (MoU) with the Republic of Equatorial Guinea to cooperate in the hydrocarbon sector in the African country. The MoU provides the basis for a comprehensive cooperation in multiple areas of the energy sector, including offshore oil and gas exploration in Equatorial Guinea plus midstream and downstream projects. The MoU is considered the foundation for future discussions that will take place in the coming weeks between the both parties to reach further agreements.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about USD 31 billion. The Indian government holds a 68.94% stake in ONGC.

ONGC Share Price

289.85 -2.95 (-1.01%)
05-May-2026 13:48 View Price Chart
Peers
Company Name CMP
ONGC 289.85
Oil India 476.25
Jindal Drilling&Inds 535.85
Deep Industries 480.80
Asian Energy Service 317.20
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