Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has invited bids for the sale of initial 2 million standard cubic meters per day of gas from its KG basin fields at a minimum price of $ 6.6 per mmBtu. According to the tender document, ONGC intends to start natural gas sale from its KG-DWN-98/2 block, which sits next to Reliance Industries (RIL)-BP Plc operated KG-D6 fields, from June-end.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.