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April 28, 2021 Oil and Natural Gas Corporation Ltd (ONGC) on Wednesday said it will invite foreign partners to explore the blocks that the firm has been allotted under Category-II and Category-III of the Open Acreage Licensing Policy.
“Intention is to invite foreign participations to explore Category-II and Category-III basins which match size and scale of expectations and portfolio of these large players,” ONGC said in a statement.
Under the licensing policy, Category-II basins are those with contingent resources that are yet to be converted to recoverable reserves. Category-III basins have prospective resources with no hydrocarbon discovery. ONGC owns the licence for one Category-II block in the Cambay basin, as well as two blocks each from the Cauvery and Mumbai Offshore basins, among others under Category-III.
Three ONGC staffers abducted in Assam - The Hindu BusinessLine
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Domestic crude production down 5 per cent in FY21
April 20, 2021
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During the same period, the domestic production of natural gas too declined by 8.06 per cent.
The domestic production of crude oil during the just-concluded financial year fell by 5.22 per cent on a year-on-year basis to 30.5 million tonnes.
For the financial year ended March 31, 2021, the domestic production of natural gas declined by 8.06 per cent to 28.7 billion cubic metre, according to the Ministry of Petroleum and Natural Gas’s Petroleum Planning and Analysis Cell (PPAC).
Oil and Natural Gas Corporation Ltd (ONGC) produced 20.6 million tonnes of crude during the year, 2.15 per cent lower than during the previous fiscal year. Its gas production was down 7.89 per cent to 21.87 bcm. Like private producers Cairn Oil and Gas and Hindustan Oil Exploration Company Ltd, the firm attributed the fall to disruptions caused by Covid-19.