Top executives of Oil and Natural Gas Corporation (ONGC) and bureaucrats within the government have successfully thwarted an attempt by the Niti Aayog to privatise the country’s largest oil and gas producing fields, including those in the famed Bombay High and Vasai East.
A high-level committee headed by Niti Aayog vice-chairman Rajiv Kumar favoured “transferring” the western offshore oil and gas fields of Mumbai High, Heera, D-1, Vasai East and Panna as well as Greater Jorajan and Geleki field in Assam, Baghewala in Rajasthan and Kalol oilfield in Gujarat to private/foreign companies through a stake sale.
The state-owned company had stoutly opposed the Niti Aayog proposal after dubbing it as a blatant “asset-stripping” exercise.
