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Home » ONGC seeks Foreign players
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ONGC seeks Foreign players

News DeskBy News Desk3 November 2021No Comments1 Min Read
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The centre has asked ONGC to give away a 60% stake in the Mumbai High and Bassein oil and gas fields to foreign entities.


The government cited low productivity of the Mumbai High and B&S offshore assets as the reason.

 

“The field has substantial potential to contribute to domestic production,” a media report said. 

 

Pipelines and platforms on the fields are ageing and need replacement, it said. 

 

The ONGC will find this challenging as its development projects have lagged.

 

Procedural aspects and other constraints will not encourage ONGC to take quick decisions.


The Petroleum Ministry also said that domestic crude oil production dipped 20% to 30.5 million tones.

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