<p>Oil and Natural Gas Corp. (ONGC) is seeking a strategic partnership with Kuwait Petroleum Corp (KPC) in two upcoming petrochemicals projects, its chairman Sudhir Vasudeva said.<br /><br /></p>.<p>The two companies Tuesday signed an initial agreement that could lead KPC to hold stakes in the ONGC Mangalore Petrochemicals Ltd. (OMPL) and ONGC Petro-Additions Ltd. (OPAL) projects. <br /><br />"We are seeking strategic partnership in the two companie. Twenty-six percent stake is being offered in (each of) the two projects," Vasudeva told reporters on the sidelines of the Petrotech 2014 international oil and gas conference here.<br /><br />The two companies signed an initial agreement here Tuesday for broad cooperation by which Kuwait Petroleum could buy stakes in the OMPL and OPAL projects.<br /><br />Nizar al-Adsani, KPC chief executive, said his company was looking at several opportunities in India. <br /><br />ONGC is developing the OMPL petrochemicals complex in south India, in which its subsidiary Mangalore Refinery and Petrochemicals will also hold a stake.<br /><br />ONGC is also developing the OPAL petrochemicals project in a joint venture with state-run gas transmitter GAIL India and Gujarat State Petroleum Corp (GSPC), at Dahej, Gujarat, in an effort to diversify beyond oil exploration and production.</p>
<p>Oil and Natural Gas Corp. (ONGC) is seeking a strategic partnership with Kuwait Petroleum Corp (KPC) in two upcoming petrochemicals projects, its chairman Sudhir Vasudeva said.<br /><br /></p>.<p>The two companies Tuesday signed an initial agreement that could lead KPC to hold stakes in the ONGC Mangalore Petrochemicals Ltd. (OMPL) and ONGC Petro-Additions Ltd. (OPAL) projects. <br /><br />"We are seeking strategic partnership in the two companie. Twenty-six percent stake is being offered in (each of) the two projects," Vasudeva told reporters on the sidelines of the Petrotech 2014 international oil and gas conference here.<br /><br />The two companies signed an initial agreement here Tuesday for broad cooperation by which Kuwait Petroleum could buy stakes in the OMPL and OPAL projects.<br /><br />Nizar al-Adsani, KPC chief executive, said his company was looking at several opportunities in India. <br /><br />ONGC is developing the OMPL petrochemicals complex in south India, in which its subsidiary Mangalore Refinery and Petrochemicals will also hold a stake.<br /><br />ONGC is also developing the OPAL petrochemicals project in a joint venture with state-run gas transmitter GAIL India and Gujarat State Petroleum Corp (GSPC), at Dahej, Gujarat, in an effort to diversify beyond oil exploration and production.</p>