ONGC to Invite Private Players to Develop Marginal Gas Fields

India's state owned energy company ONGC is inviting more private players to exploit marginal gas fields in the KG Basin and elsewhere in the country, Business Line quoted company Chairman and Managing Director Sudhir Vasudeva as saying.

Gas prices had been increased substantially to make exploitation of these fields feasible. It would benefit private players and ONGC, he said.

J. G. Chaturvedi, Executive Director and chief of Marginal Fields division of ONGC, said the fields were contributing 10 per cent of the total gas production at present, and it might increase in the near future if more number of private players came forward, Business Line reported. ONGC had decided to award six more marginal gas fields to private players, he added.