Source: Business Standard, Feb 20, 2019
At least 54 fields included in the initial list belong to the country’s largest oil and gas producer ONGC. The Union Cabinet allowed the two oil companies to bring in private sector players for increasing production, through introduction of new technology.
“The enhanced production profile ONGC and OIL are working on include about 113 fields. Of this, we have enhanced oil recovery or improved oil recovery plans for at least 50 per cent of the fields. The remaining will become part of this policy. They comprise 2-3 per cent of the existing production of these companies,” said an official, who did not want to be named.
More than five fields of OIL are likely to be on offer. The two companies will soon appoint a consultant and the modalities of bidding will be worked out based on its report. Read the rest of this entry »