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ONGC to decide the way to increase oil and gas production: Ministry of Petroleum

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ONGC to decide the way to increase oil and gas production: Ministry of Petroleum

New Delhi, Nov 22 (PTI) The Petroleum Ministry on Monday said efforts should be made to enhance oil and gas production from existing fields by engaging the private sector in a transparent manner with technology.

The ministry’s statement came after its number two top authority had asked ONGC to hand over its largest oil and gas fields to foreign companies.

On October 28, Amar Nath, additional secretary (search) in the ministry of petroleum and natural gas, had written a three-page letter to ONGC chairman and managing director Subhash Kumar in this regard.

He had said that international partners should be invited to increase production and 60 percent participation and operation should be given. The proposal, however, has faced stiff opposition from the management of ONGC as well as its unions.

The same Petroleum Ministry said in a statement in this regard on Monday, “The government wants the domestic production of oil and gas to increase rapidly. Being the premier institution, ONGC has an important role to play.

The ministry said that the area under exploration should be increased so that further oil and gas exploration can take place in the country later.

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