Representatives of ONGC and HADUCO sign a contract in Mumbai on June 20, 2023 to lease 7 multi-purpose oil and gas service vessels. (Photo: VOV)

Under the contract, HADUCO will provide 7 multi-purpose oil and gas service vessels for ONGC's offshore oil and gas exploration and production activities over 3 years.

HADUCO used to provide ONGC one oil and gas service vessel.

At the signing ceremony in Mumbai, Do Thanh Hai, counselor at the Vietnamese Embassy in India, said the contract will open up new opportunities for co-operation between businesses in the two countries.

Strengthening trade ties between Vietnam and India will be beneficial to both and will promote maritime connectivity, thereby contributing to stability and growth in the Indo-Pacific region, Hai said.