By an OGJ Online Correspondent
NEW DELHI, Aug. 7 -- Indian Oil Corp. and Oil & Natural Gas Corp., both of India, formed a joint venture to market their consultancy, services, and training.
The 50-50 venture is called ONGIO International. It will target Asia-Pacific, Middle East, and Africa regions for projects in the upstream and downstream markets.
IOC and ONGC say ONGIO will allow them to cover the entire range of services in the hydrocarbon sector, from "drilling to dispensing."
ONGC already has done consultant projects for Petronas, Petrovietnam, and the national oil companies of Sri Lanka, Turkey, and Tanzania. It also provided drilling services in Bangladesh and Oman and reservoir evaluation in Kazakhstan, Iraq, and Sudan.
IOC commissioned a refinery in the United Arab Emirates, operated a refinery and provided training in Nigeria, managed coker operations in Kuwait, and provided maintenance and drydocking in Sri Lanka.
ONGIO will market all services available from IOC and ONGC, including laying and managing pipelines and handling liquefied petroleum gas terminals.