Indian Oil Company Interested in Greek Hydrocarbons



oil explorationAnother oil company, the Indian Oil and Natural Gas Corporation (ONGC) has been added to the list of those interested in hydrocarbon exploration in Greece. Its interest was made clear during a meeting between the Minister of Environment Giannis Maniatis and a delegation of ONGC executives.

The executives said that they were following developments in the region and that they were interested in taking part in the tenders for the Ionian Sea and southern Crete regions which are expected to be launched later this year.

The ONGC visit to Greece was organized after an invitation by the Greek start-up company “Invest in Greece.” During the visit, Indian executives also met with representatives of Greek oil companies.

ONGC is the largest state-owned oil and gas exploration and production company in India. It produces 69 percent of India’s crude oil and 62 percent of its natural gas. It employs 32,000 people world-wide and is the second largest company listed on the Indian stock market in terms of market capitalization.