ONGC awards 49 marginal oil fields to seven firms

Oil and Natural Gas Corporation Limited (ONGC) placed Notice of Award (NoA) to seven successful bidders in 13 contract areas comprising of 49 marginal oil and gas fields.

The bid process for seeking partners for enhancement of production from 64 marginal nomination fields was held recently. Interested companies participated in the International competitive bidding process for 17 onshore contract areas comprising of producing oil and gas fields.

Through a detailed process of evaluation as per the tender conditions, seven companies have now been awarded 13 onland contract areas spread across the states of Gujarat, Tamil Nadu, Andhra Pradesh and Assam. It is expected with award of these contract areas, the production from these marginal fields would be enhanced.

Source: ONGC

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