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Government allows ONGC, OIL to induct foreign partner; special incentives for difficult finds

Updated : January 08, 2019 07:09 AM IST

ONGC and OIL haven't been able to develop some of their discoveries or bring them to production as the current gas price of $3.36 per million British thermal units (MMBtu) is way lower than the cost of production.
ONGC has about 35 billion cubic metres of recoverable reserves in discoveries in the shallow sea off Andhra Pradesh on the east and off Gujarat and Mumbai on the west coast blocks.
Government allows ONGC, OIL to induct foreign partner; special incentives for difficult finds

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