Oil & Natural Gas Corporation Ltd.

State run, ONGC has decided to ink pact with strategic private sector investors in three coal-bed-methane assets in West Bengal and Jharkhand. Initially, it is likely to rope in two strategic partners, with 25% and 10% stake each, as joint operators in the North Karanpura and Bokaro in Jharkhand, and Ranigunj in West Bengal assets.

The PSU major has 90% operating interest in Ranigunj and 80% each in Bokaro and North Karanpura. It was offered 25% stake each in the Bokaro and North Karanpura blocks. It has also offered it a 10 per cent stake in the Ranigunj block. Listed in Australia, Dart is focused on developing unconventional gas in the UK, Europe, India, China, Indonesia and Australia. The company is exploring CBM in two blocks in India.