(TH)
Oil and Natural Gas Corporation’s (ONGC) Rajamahendravaram asset manager and executive director Debashis Sanyal has said that the public sector unit will give a tough competition in exploration, production, and pricing to the private players such as Reliance Industries Limited (RIL) and BP that have come forward to invest in a large scale in the sector.
Talking to The Hindu, Mr. Sanyal, who is retiring from service this month-end, referred to ONGC chairman D.K. Sarraf’s recent statement in an interview that the company was investing ₹45,000 crore in three cluster programmes, including the KG Basin.
RIL and its partner BP are investing ₹40,000 crore in the once-prolific deep-water gas fields of the Krishna-Godavari (KG) D6 block on the country’s east coast. The investment will be over the next three to five years.
