NEW DELHI: Flagship explorer Oil and Natural Gas Corporation on Thursday wrenched from rivals the prolific Chinnewala Tibba gas field in Rajasthan, which it had discovered 15 back but lost after the government took it away for auctioning ostensibly to encourage private investment.
ONGC signed the contract for the 72-square km field near Jaisalmer in Rajasthan, estimated to have 1,900 million cubic metres of reserves. ONGC’s was among the contracts signed on Thursday for 23 fields consisting of some 57 discoveries by ONGC and OIL. These altogether hold 190 million tonne of oil and oil-equivalent gas resources, the official said.
Speaking on the occasion, oil minister Dharmendra Pradhan said DSF bid rounds are aimed at raising domestic production to cut dependence on imported oil. “Maximising production is the most important priority now,” he said.
