Government mulls selling 149 fields of ONGC to private firms

This is the second attempt by the oil ministry to take away some of the fields of ONGC for private and foreign companies. (Representational image)

This is the second attempt by the oil ministry to take away some of the fields of ONGC for private and foreign companies. (Representational image)

The government is mulling selling as many as 149 small and marginal oil and gas fields of ONGC to private and foreign companies and allow the state-owned firm to focus only on big fields, sources with knowledge of the development said.

On the anvil is some kind of extension of the Discovered Small Field (DSF) bid round where discovered and producing fields of Oil and Natural Gas Corp (ONGC) are auctioned to firms offering the maximum share of output to the government, sources said.

 

Click here to read more…

Credit: indianexpress.com