ONGC offers stake in KG block to foreign firms
State-owned Oil and Natural Gas Corporation (ONGC) is offering a stake to foreign companies in its ultra deepsea gas discovery and a high-pressure, high-temperature block in the KG basin as it looks for financial and technological help to bring the challenging fields to production. ONGC has floated an initial tender seeking interest of global majors with “requisite technical expertise and financial strength” to join as partners in development of the Deen Dayal West (DDW) block as well as ultra-deep discoveries in Cluster-III of its KG-D5 area.
