New Delhi [India], February 12 (ANI): ONGC Videsh signed a non-binding memorandum of understanding (MoU) with Petroleo Brasileiro SA on Wednesday. The MoU is aimed at assessing opportunities in the areas of upstream, marketing, decarbonization, and low-carbon solutions, among others.

The agreement is aligned with Petrobras' strategy to develop partnerships that allow for the sharing of risks and expertise, seeking to strengthen the company as an integrated energy enterprise and contributing to the success of a fair and responsible energy transition, ONGC Videsh said in a statement.

Also Read | 'Ek Badnaam Aashram Season 3' Part 2 Teaser: Bobby Deol's Amazon MX Player Show Delves Into Darker, More Complex Web of Betrayals (Watch Video).

CEO of Brazilian energy major Petrobras Magda Chambriard along with Minister of Petroleum and Natural Gas Hardeep Singh Puri were present during the signing of the MoU.

ONGC Videsh Ltd, a wholly owned subsidiary of ONGC, is India's largest international oil and gas exploration and production (E&P) company having 32 assets in 15 countries. (ANI)

Also Read | 'Kingdom' Teaser: Vijay Deverakonda Is a One-Man Army on Mission To Defend His People in Gautam Tinnanuri's Intense Action Drama (Watch Video).

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)