ONGC has entered into a Strategic Alliance with M/s Weatherford, a leading international oilfield service provider. MoU was signed by Mr. A.K. Hazarika, Director (Onshore), ONGC and Mr. Keith Morley, Sr. Vice President, Weatherford International Ltd., on February 12, 2009 at New Delhi.
The Strategic Alliance partners would jointly work in various areas like; near term production enhancement solutions, optimization of reservoirs and production systems through Integrated Project Management, recovery and production optimization, reservoir management, marginal field development, Logging services, data and information management and deep-water exploration & exploitation.
M/s Weatherford International Ltd. is one of the largest integrated global solution providers covering the entire gamut of Exploration and Production activities. It operates in more than 100 countries providing various consulting services for wells, fields and reservoirs development.
Speaking on the occasion, ONGC CMD Mr. R S Sharma said that the canvas of this MoU is quite large. He expressed his confidence in Weatherford and said that this collaboration should improve overall well economics for ONGC and lead to a win-win situation for both the companies.