ONGC signs exploration cooperation accord with Mitsui of Japan.

State-owned Oil and Natural Gas Corp (ONGC) has signed an agreement with Japanese conglomerate Mitsui and Co. for cooperation in oil and gas exploration, the third pact between the two firms since 2012.
The memorandum of understanding (MoU), signed on 24 January, 'provides for cooperation in exploration and production for conventional and unconventional petroleum and natural gas opportunities in India and in third countries,' a company statement said.
ONGC and Mitsui had signed an MoU for cooperation in gas and liquefied natural gas (LNG) business in August 2012. Later in March 2013, Mitsui had entered into another MoU with ONGC, Bharat Petroleum Corp and New Mangalore Port Trust to explore setting up a 5 million tonne LNG import terminal at Mangalore in Karnataka.

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