ONGC looking for partnership for developing marginal fields

Mumbai, Mar 4 (UNI) ONGC is looking out for partners for production of oil and gas in non remunerative 18 marginal fields, ONGC Chairman R S Sharma today indicated.

Talking to mediapersons on the sidelines of an international exposition on oil exploration and production here, he said that out of its 62 marginal fields, ONGC had taken up production in 42 fields on its own and was hunting for partners in the remaining fields.

It will take up on a production sharing basis, joint production with some of the private players, he added.

Replying to a question he said, ONGC is also in talks with 12 overseas players for joint collaboration in development of deep sea platforms in the eastern coast.

Referring to the high crude prices he said, the crude subsidy for the first nine months for the current fiscal worked out to Rs 13,500 crore and for the last quarter it was estimated to be around Rs 7000 crore.

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