NEW DELHI: There is no proposal at present to transfer India’s biggest oil and gas producer ONGC’s assets to smaller state-owned firm Oil India Ltd (OIL), Parliament was informed on Monday. Assam Chief Minister Himanta Biswa Sarma had earlier this year written to Prime Minister Narendra Modi requesting him to consider transferring all assets of Oil and Natural Gas Corporation (ONGC) in the northeastern region to Oil India Ltd.
“At present, there is no proposal to transfer ONGC’s assets to OIL,” Minister of State for Petroleum and Natural Gas Rameswar Teli said in a written reply to a question in the Rajya Sabha.
Sarma’s letter to the prime minister followed the oil ministry’s directive to ONGC to consider selling stakes in producing oil fields and hive off drilling and other services into a separate firm to raise production.
