New Delhi: ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), signed a non-binding memorandum of understanding (MoU) with Brazil’s national oil company Petróleo Brasileiro S.A. (Petrobras) to explore collaboration in upstream, marketing, decarbonization, and low-carbon solutions.
The MoU was signed in the presence of Petroleum and Natural Gas Minister Hardeep Singh Puri and Petrobras CEO Magda Chambriard on the sidelines of India Energy Week 2025. The agreement aims to assess opportunities for joint ventures and strategic partnerships across key energy sectors.
“The agreement aligns with Petrobras’ strategy to develop partnerships that allow for the sharing of risks and expertise, seeking to strengthen the company as an integrated energy enterprise and contributing to the success of a fair and responsible energy transition,” Petrobras said in a statement.
ONGC Videsh, India’s largest international oil and gas exploration and production (E&P) company, currently holds 32 assets in 15 countries. The collaboration with Petrobras is expected to enhance ONGC Videsh’s global footprint while supporting both companies’ efforts in energy transition initiatives.
