The government will auction unmonetised large oil NSE 2.03 % and gas fields of state-owned ONGC and OIL to boost the country’s hydrocarbon production, Petroleum Minister Dharmendra Pradhan said on Thursday.
Speaking on the launch of the third round of auction of small discovered fields, he said companies cannot indefinitely sit on resources they may have discovered.
These resources actually belong to the nation and they will be monetised by bidding them out to interested entities, he said.
