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ONGC signs deal with Malaysia-based ASB

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Our Web Bureau Mumbai
Oil & Natural Gas Corporation (ONGC) has signed a three-year contract with Malaysia-based Asian Supply Base Sdn Bhd (ASB) to upgrade and transform the existing Nhava supply base to international standards.

According to a release issued by ONGC to the BSE today, ASB would provide consultancy services for the project.  "ASB, a government-owned entity, is a one-stop, centralised logistic support centre for exploration, development and production activities. Over the years, they have developed unique systems and procedures to reduce the supply base turn-around time," the release added.

In another development, ONGC and Shell Bitumen India (SBIPL) today formalised the broad terms of manufacturing and marketing of bituminous products  in India.

"The MoU was signed by Subir Raha, CMD of ONGC and Vikram Singh Mehta, chairman of Shell group of companies in India," the release said.

The MoU is primarily aimed at carrying out a joint market research to evaluate India's bitumen and value added bitumen (VAB) market potential over the next 10 years, and conduct an economic evaluation of investing in a stand-alone refinery in India to be established at the east or west coast, the release said.

 
 

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First Published: Feb 08 2006 | 6:45 PM IST

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