MUMBAI : Defending its business strategy, the state-run explorer, Oil and Natural Gas Corporation Ltd (ONGC) today said any “potential” restructuring of the company would not significantly affect the company.
A Press Trust of India report had on April 25, reported that the petroleum ministry has told ONGC to restructure the business and sell stake in producing oil fields to private firms, get foreign partners in the Krishna Godavari basin gas fields, monetize existing infrastructure, and hive off drilling and other services into a separate firm to raise production.
The company said it is looking into strategic relationships and close alliances with key international players through its overseas upstream arm ONGC Videsh
