By IANS,
New Delhi : Oil and Natural Gas Corp (ONGC) and Uranium Corp of India Tuesday signed an agreement for cooperation in exploration and development.
The deal was signed between ONGC chairman R.S. Sharma and UCIL chairman Ramendra Gupta in the presence of Department of Atomic Energy secretary Anil Kakodkar.
According to an ONGC statement, the initiative is based “on complementary expertise of the two public enterprises”.
“The cross-fertilization of ideas and technologies are bound to synergise the new endeavour of uranium prospecting and mining,” it added.
ONGC is already studying the logs of its oil wells that have indicated presence of uranium.
UCIL has started to explore the possibility of acquiring uranium properties and exploration overseas.