HPCL, ONGC sign infrastructure sharing accord
19 Jul 2007
Hindustan Petroleum Corporation Ltd (HPCL) and ONGC have signed a wide-ranging cooperation agreement in energy and related fields.
The
agreement will assure domestic oil supplies to HPCL
from ONGC and its subsidiary MRPL, helping it to reduce
its imports, in return HPCL will provide infrastructure
support and services to the two companies.
They will also agreed their expertise in downstream and upstream sectors respectively, by providing training support to each others'' employees.
HPCL
and ONGC have also agreed to support each other and
jointly evaluate possibilities to collaborate in the
fields of oil exploration, refining, marketing, infrastructure
development, petrochemicals and other energy and related
ventures in India and abroad.