Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) is offering a stake to foreign companies in its ultra deep sea gas discovery and a high-pressure, high-temperature block in the KG basin as it looks for financial and technological help to bring the challenging fields to production.

ONGC has floated an initial tender seeking interest of global majors with requisite technical expertise and financial strength to join as partners in development of the Deen Dayal West (DDW) block as well as ultra-deep discoveries in Cluster-III of its KG-D5 area. Expressions of Interest (EoIs) have been invited by June 16.

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.