ONGC, Kuwait Petroleum sign deal for strategic partnership.

State-run ONGC Ltd. recently signed a memorandum of understanding with Kuwait Petroleum Corporation for upstream, downstream and mid-stream ventures.

The deal is the first step towards a strategic partnership for ONGC Petro additions (OPaL) and ONGC Mangalore Petrochemicals (OMPL)

For OPaL project at Dahej special economic zone, ONGC was looking for a foreign participation of about 25%. ONGC holds 26% in the venture, in which GAIL and GSPC are also partners.

BS