NEW DELHI: Energy giant ExxonMobil is in talks to buy stake in some producing oil and gas fields in India, Oil Minister Dharmendra Pradhan has said.
For years, ExxonMobil has sat on the sidelines evaluating business opportunities in the Indian upstream, seeking an easier policy framework and studying geological data for a possible bid for exploration acreage. Last year it tied up with ONGC, India’s largest state-run oil and gas producer, for a possible joint bidding for exploration licenses. Exxon has yet to make a bid for an exploration license in India.
“Exxon Mobil is in active discussion with some of our companies to participate in some of our producing fields,” Pradhan said without elaborating.
