ONGC Oil and Gas Processing Platform, Bombay High. Photo: Nandu Chitnis |Wikimedia Commons
New Delhi: The Ministry of Petroleum and Natural Gas has sought private sector company’s involvement as partners of ONGC or through various business models so that new techniques and technology can be brought in through such companies.
“There is enough scope for several large and small companies to operate in the offshore and onshore basins in the country as substantial area is still available,” the Ministry stated today.
Issuing a “clarification” on media reports about privatization of Mumbai High field of ONGC on proposal from Ministry of Petroleum and Natural Gas, the Ministry stated production from existing oil and gas fields was needed to be optimised and increased wherever possible by “employing advanced technology, drilling more production wells, wherever technically feasible, and better management”.
The Ministry in this context referred to an “internal strategy meet” conducted by ONGC at Udaipur between October 29-31, 2021 wherein suggestions including making a 25 years energy perspective plan, 15 years exploration plan by taking more acreages under exploration, and having partnerships for its major fields, with scope of enhancing recovery and technology infusion, were made.
The Ministry also referred to a government decision of February 2019, that National Oil Companies (NOCs) would be free to choose field specific models including farm out and Joint Venture (JV)/ Technical Service Model (TSM) for enhancing production from their mature and ageing fields.
Insisting that area under exploration has to be increased which would subsequently lead to more new discoveries in the country, the Ministry stated that it was “keen” that the domestic production of Oil and Gas should increase exponentially. “ONGC, being the leading organization, has to play an important role,” it stated, adding that “all this has to be done by following system and procedures in a transparent manner. ONGC has to prepare its plan and take right decisions in order to increase domestic production”.
– global bihari bureau
