Seek foreign partners to raise output from Mumbai High, B&S fields: Govt to ONGC

The petroleum Ministry has asked state-owned Oil and Natural Gas Corporation (ONGC) to consider offering up to a 60 per cent stake and operating rights over parts of key Mumbai High and Bassein and Satellites (B&S) oil and gas producing fields to foreign companies to boost production. The Centre had previously directed ONGC to bid out small and marginal fields to boost domestic production, and has consistently been nudging ONGC to seek out foreign players as partners to boost production from domestic oil and gas fields.

A senior government official told The Indian Express that Amar Nath, Additional Secretary in charge of Exploration Division at the Petroleum Ministry,