Oil & Natural Gas Corporation Ltd.

The Oil Ministry has formed all- powerful review committees in order to monitor performance of Oil and Natural Gas Corporation (ONGC) and Oil India (OIL). The committee will have the power to relinquish any oil and gas field for auctioning to private firms.

The two panels - one each for ONGC and OIL, will review from annual work programme and budget to declaration of a discovery as commercial as also reservoir and production performance, monitoring of development activities and collaborations with other explorers.

Being dubbed as ‘super-boards’, the committees will be headed by the ministry’s upstream nodal authority DGH, and will review and monitor performance of areas given to ONGC and OIL on nomination basis.