The oil ministry has formed all- powerful review committees to monitor performance of ONGC and Oil India, and will have power to relinquish any oil and gas field for auctioning to private firms.
Being dubbed as ‘super-boards’, the committees will be headed by the ministry’s upstream nodal authority DGH, and will review and monitor performance of areas given to Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) on nomination basis.
The two panels – one each for ONGC and OIL, will review from annual work programme and budget to declaration of a discovery as commercial as also reservoir and production performance, monitoring of development activities and collaborations with other explorers. Read More…
Credit By: ET Energy World
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