Key Points
State-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal..
ONGC on June 12 sought expression of interest from global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy for the field, according to the tender document...
The field has produced negligible quantities of gas since January 2017 when ONGCacquired Gujarat State Petroleum Corporations (GSPC) 80 percent interest in the KG-OSN-2001/3 block off the east coast of India...
The KG-OSN-2001/3 block, which was awarded to GSPC and its partners in the first bid round of New Exploration Licensing Policy (NELP) brought by the then NDA government under Prime Minister Atal Bihari Vajpayee, comprises five fields - DDW, DDE, DDN, DD-DT and DD-BRU..
Considering the technology challenges associated with the field and costs involved, ONGC would like to seek technical expertise to firm up a way forward for future development, the tender document said.. Interested parties have to submit bids by September 12, according to the document...
