ongc: ONGC to sell stake, seeks global help to develop fields – Times of India

NEW DELHI: High explorer Oil and Natural Gas Corporation (ONGC) is providing a stake to world oil firms to assist develop difficult fields off the nation’s east coast, in keeping with a young doc.
The corporate didn’t say how large a stake it was providing to a possible associate.
India, the world’s third largest oil importer and client, imports over 80% of its oil wants. The nation is eager to monetise its oil and fuel assets to chop its import invoice.
ONGC is hoping to lure curiosity from world firms with the “requisite technical experience and monetary power” to assist it in growing its Deen Dayal West discipline within the Bay of Bengal and ultra-deep discoveries in Krishna Godavari Basin.
The deadline for submitting expressions of curiosity is June 16, ONGC stated in a young doc on its web site.

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