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ONGC, Kuwait Petroluem sign deal for strategic partnership

State-run ONGC Ltd today 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 Percent. ONGC holds 26 Percent in the venture, in which GAIL and GSPC are also partners.

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