Thursday, January 15, 2009

ONGC Signs MOU With Arrow Energy Of Australia - Jan 15, 2009

The Oil and Natural Gas Corporation has signed a Memorandum of Understanding with Australia''s Arrow Energy for corporation in Coal-bed Methane Sector.

The MoU was signed by D K Pande, the Director (Exploration) of ONGC and Nicholas Davies, CEO and MD of Arrow Energy Ltd.

Under the deal there would be joint participation by the two companies for exploration as well as field development and production of Coal bed Methane and sharing of knowledge, experience and transfer of technology in CBM Sector, in the blocks in India and abroad.

CBM found in coal seams is fast emerging as an important source of energy world over. ONGC, the pioneer of CBM exploration in India, has been carrying out CBM activities in the states of Jharkhand as well as West Bengal, Madhya Pradesh and Gujarat.

Arrow Energy Ltd Group is a leading Australian integrated energy company focused on the development of CBM.

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