ONGC has signed agreements with Schlumberger Overseas S.A. and Halliburton Offshore Services Inc for enhancement of production from its matured fields of Geleki in Assam and Kalol in Gujarat, respectively, on December 7, 2016.

The agreements were signed in the august presence of Sh Nitin Gadkari, Union Minister for Road Transport and Highways, Sh Dharmendra Pradhan, MoS (I/C), Petroleum & Natural Gas, Sh Piyush Goyal, MoS (I/C), Power, Coal, New and Renewable Energy and Mines, and Sh Anil Madhav Dave, MoS (I/C) Environment, Forest and Climate Change.

ONGC signed the Statement of Intention to Collaborate (SOIC) with Schlumberger for Production Enhancement Contract (PEC) to improve recovery from its mature fields. ONGC has selected Geleki field of Assam for implementation of the contract in line with the Hydrocarbon Vision 2030 for North East India rolled out by MoPNG.

The agreement to collaborate is aimed at enhancing production from Geleki and to strengthen surface and subsurface activities by inducting state-of-the-art technology. Schlumberger will provide its technical expertise with investments for service charge payable to them on per barrel of oil and per SCM of natural gas of incremental production of Oil and Gas respectively.

ONGC signed the Summary of Understanding (SOU) with Halliburton to cooperate on enhancement of production by improving the recovery in the Kalol field in Gujarat and execution of all activities related to Sub-Surface and Surface.

ONGC CMD Mr Dinesh K Sarraf and other functional Directors, Mr Ashok Belani, CTO, Schlumberger and Mr Joe Rainey, President, Halliburton were also present at the signing ceremony.

About ONGC

ONGC is a Government of India (GoI) company engaged in the business of exploration and production of oil and gas in India and abroad with the objective of increasing the degree of energy self-sufficiency of India through exploring and producing hydrocarbons in a most optimum manner. Additionally, ONGC is in production and marketing of value added petroleum products, refining and downstream activities.

About Schlumberger Overseas S.A.

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry with expertise in over 20 technology business lines and also has a production management segment (SPM) which is managing production as of today of approximately 250,000 BOEPD.

About Halliburton Offshore Services Inc.

M/s Halliburton Offshore Services Inc (HOSI) is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide, including India.