Around 100 oil and gas fields could go up for private auction


Around 100 oil and gas fields could go up for private auction

The National Democratic Alliance (NDA) government is considering a proposal by a high-level committee to take away 97 oil and gas fields being explored by the Oil and Natural Gas Corporation Ltd (ONGC) and Oil India Ltd (OIL) and auction them to private sector energy companies, two government officials aware of the development said.

The committee comprising top civil servants, including cabinet secretary PK Sinha and headed by NITI Aayog vice chairman Rajiv Kumar, has proposed “complete marketing and pricing freedom” to potential investors, one of the two officials said on condition of anonymity.

These are part of 149 marginal fields that contribute about 5% of the country’s total oil and gas production. Read More

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