New Delhi: At India Energy Week 2025, the State Oil Company of Azerbaijan Republic (SOCAR), Mangalore Refinery and Petrochemicals Limited (MRPL), and Oil and Natural Gas Corporation Limited (ONGC) have signed a non-binding Memorandum of Understanding (MoU) to explore strategic opportunities in the energy sector. The MoU, signed on February 12, 2025, aims to strengthen collaboration in areas such as the supply of crude oil and liquefied natural gas (LNG), the sale and supply of petroleum products, trading opportunities, and capacity building through knowledge exchange.
This strategic partnership is expected to bolster ONGC’s presence in Azerbaijan’s oil and gas sector, particularly in the Azeri–Chirag–Gunashli (ACG) field and the Baku–Tbilisi–Ceyhan (BTC) pipeline. By leveraging existing infrastructure and expertise, the collaboration is set to facilitate increased energy trade and cooperation.
The MoU will also enable ONGC and MRPL to expand their footprint in the global energy market, positioning them strategically for growth and development. It is anticipated to foster stronger economic ties between India and Azerbaijan, contributing to enhanced energy security and cooperation between the two nations.
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