Govt wants ONGC to identify areas for involving private sector: Oil Secretary
The government is pushing the public sector behemoth ONGC NSE 0.65 % to involve private sector companies and service providers wherever possible to help raise oil and gas production, Petroleum Secretary Tarun Kapoor said Thursday.
Kapoor’s comments came days after the second-highest ranked official in his ministry asked Oil and Natural Gas Corporation (ONGC) to give away a 60 per cent stake plus operating control in India’s largest oil and gas producing fields of Mumbai High and Bassein to foreign companies.
“ONGC has to explore more so that it can discover more oil and gas reserves and bring them quickly to production to raise domestic output. The government is very clear that ONGC has to do more,” he told reporters here.
