Turkey's TPAO, India's ONGC Sign Agreement for Oil Exploration

ISTANBUL--June 25, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--A new memorandum of understanding (MOU) paves the way for joint oil exploration by state-owned energy companies in India and Turkey. ONGC Videsh Limited (OVL), a subsidiary of India's state-owned Oil and Natural Gas Corporation Limited (ONGC) (BSE:500312) (Dehradun, Uttarakhand), has signed an MOU with Turkey's state-owned Turkiye Petrollleri Anonim Ortakligi AS (TPAO) (Ankara, Turkey) to perform exploration activities.