ONGC Pursues Strategic Partnership with ExxonMobil for Upcoming Oil & Gas Auctions
In a significant development for India's energy sector, state-owned Oil and Natural Gas Corporation (ONGC) is actively exploring a potential collaboration with global energy giant ExxonMobil. The partnership aims to jointly bid for hydrocarbon blocks in India's upcoming tenth round of auctions under the Open Acreage Licensing Policy (OALP).
Strategic Discussions at India Energy Week 2026
O.P. Sinha, director of exploration at ONGC, revealed these discussions during the sidelines of India Energy Week 2026 in Panaji. "We are in talks with ExxonMobil also. We are looking at possibilities of joint bidding in upcoming OALP rounds," Sinha stated on Wednesday. However, he noted that the company is still awaiting a formal response from the US-based energy major.
Queries sent to ExxonMobil late Wednesday evening remained unanswered at the time of reporting. This potential collaboration follows ONGC's previous success in securing a block during the ninth round of auctions through a partnership with Reliance Industries Ltd (RIL) and UK-headquartered bp plc.
Focus on East Coast Exploration Activities
Sinha emphasized that the upstream major will concentrate its exploration efforts along India's east coast. This strategic focus includes the Mahanadi, Krishna-Godavari (KG), and Cauvery basins, as well as offshore areas near the Andaman Islands. This geographical targeting represents a comprehensive approach to unlocking India's hydrocarbon potential in these promising regions.
Resource-Sharing Agreement with Reliance Industries
In a parallel development, ONGC signed a significant agreement with Reliance Industries on Wednesday to enable deepwater resource-sharing along India's east coast. This collaboration specifically targets the KG basin and Andaman offshore areas with multiple strategic objectives:
- Achieving substantial cost optimization through shared infrastructure
- Enabling faster project execution timelines
- Improving overall asset utilization in complex deepwater projects
The agreement encompasses sharing of critical resources required for offshore operations, which may include:
- Onshore and offshore processing facilities
- Specialized drilling rigs and marine vessels
- Power infrastructure and pipeline networks
- Logging and well services equipment
This resource-sharing initiative is expected to deliver significant cost savings through shared utilization of high-value rigs, vessels, logistics, and specialized subsea equipment. Additionally, it will facilitate faster mobilization and execution by improving access to the limited deepwater services available in the region.
Broader Engagement with Global Energy Players
Earlier this week, Pankaj Kumar, director of production at ONGC, disclosed that the company has reached out to approximately ten global energy players. This outreach aims to identify suitable technical services providers (TSPs) to enhance production in ONGC's western offshore fields. This multi-pronged approach demonstrates ONGC's comprehensive strategy to boost India's domestic hydrocarbon production through both domestic partnerships and international collaborations.
The combination of potential international partnerships with ExxonMobil, domestic collaboration with Reliance Industries, and engagement with multiple technical service providers represents a robust, multi-faceted strategy by India's leading energy exploration company to strengthen the nation's energy security and reduce import dependency.
