State-run Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) are likely to come out with bids offering their fields to private sector companies in the next six months.
At least 54 fields included in the initial list belong to the country’s largest oil and gas producer ONGC. The Union Cabinet allowed the two oil companies to bring in private sector players for increasing production, through introduction of new technology.
“The enhanced production profile ONGC and OIL are working on include about 113 fields. Of this, we have enhanced oil recovery or improved oil recovery plans for at least 50 per cent of the fields.
