The government should privatise ONGC rather than give away its prime producing oil and gas fields to private companies "for a song and bleed the PSU to death", say company executives. Also read Oilfield privatisation plan runs into ONGC wall"If they think ONGC is inefficient, the company should be privatised. The DGH wants private companies take 60% stake in producing oil and gas fields of national oil companies, ONGC and OIL, with the view that they would raise production above the baseline estimate. The 15 fields selected are out of a review of 202 fields operated by the national oil companies. As many as 44 fields of ONGC and OIL have been identified for production enhancement work through Technical Services Model.

Source: dna December 03, 2017 09:18 UTC