State-run Oil and Natural Gas Corporation Limited (ONGC) has awarded 49 marginal oil and gas fields to seven successful bidders.
These fields are spread across the states of Gujarat, Tamil Nadu, Andhra Pradesh and Assam, covering 13 onland contract areas.
“The bid process for seeking partners for enhancement of production from 64 marginal nomination fields was held recently. Interested companies participated in the International competitive bidding process for 17 onshore contract areas comprising of producing oil and gas fields,” ONGC said in a statement.
It is expected that with award of these contract areas, the production from these marginal fields would be enhanced. These 64 fields have a cumulative 300 million tonnes of oil and oil equivalent natural gas reserves.
