ONGC Videsh signed a non-binding Memorandum of Understanding (MoU) with Petróleo Brasileiro S.A. aimed at assessing opportunities in the areas of upstream, marketing, decarbonization, and low-carbon solutions, among others.

The agreement is aligned 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.

ONGC Videsh Ltd., a wholly owned subsidiary of ONGC, the premier Energy Company of India, is India’s largest international oil and gas E&P Company having 32 Assets in 15 countries.