ONGC, BP in pact for exploration
ONGC entered into a memorandum of understanding (MoU) with j global oil major, bp, to collaborate in the exploration and production (e&p) business in India and abroad, including sharing of knowledge in coal-bed methane (cbm) and deep-water activities. The pact was valid for an initial period of 18 months, which could be extended further by mutual agreement of the two corporations.