New Delhi: State-owned Oil and Natural Gas Corp (ONGC) on Thursday invited bids from private companies for handing over operations of 43 small and marginal oil and gas fields with a view to raising production.
The 43 onland fields have been clustered into 11 contract areas that will be bid out to companies offering the highest oil and gas output on top of a pre-decided baseline, the company said in a statement.
ONGC had in June 2019 invited similar bids for 64 fields that were clustered into 17 contract areas. The bid round did not evoke much interest and failed.