Dialog has entered the MOU as a part of its strategic move to develop its upstream capabilities in the oil and gas activities by rejuvenating and re-developing mature oil fields.
It will also develop marginal fields to create a platform for generating long term sustainable revenue from incremental oil and gas production.
Dialog is expecting to further its opportunities and participate in other parts of the value chain in the field development cycle, specifically the provision of engineering and operations services.
As per the terms of the MOU ,the two companies will jointly identify, explore, pursue and participate in the target projects and will also confirm each parties’ right for the provision of certain work, goods and services in the target Projects.
DDPSB will contribute its engineering strengths and resources in the re-development projects under the terms of the contract and both the companies have also confirmed their mutual understanding for disclosures to the public of any target projects secured.
