New Delhi: Top Searchers oil and natural gas corporation ,ONGCis offering stakes to global oil companies to help develop challenging fields off the country’s east coast, according to a tender document.
The company did not specify the size of the stake it is offering to a potential partner.
India, the world’s third largest oil importer and consumer, imports more than 80% of its oil needs. The country is keen to monetise its oil and gas resources to cut its import bill.
ONGC is expecting interest from global companies with “requisite technical expertise and financial strength” to develop its Deen Dayal West field in the Bay of Bengal and assist in ultra-deep explorations in the Krishna Godavari basin.
ONGC said in a tender document on its website that the deadline for submission of expression of interest is June 16.
The company did not specify the size of the stake it is offering to a potential partner.
India, the world’s third largest oil importer and consumer, imports more than 80% of its oil needs. The country is keen to monetise its oil and gas resources to cut its import bill.
ONGC is expecting interest from global companies with “requisite technical expertise and financial strength” to develop its Deen Dayal West field in the Bay of Bengal and assist in ultra-deep explorations in the Krishna Godavari basin.
ONGC said in a tender document on its website that the deadline for submission of expression of interest is June 16.