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ONGC fails again to attract bids for stake in Deen Dayal gas field

Business Standard LogoBusiness Standard2d ago

ONGC fails again to attract bids for stake in Deen Dayal gas field - Business Standard

Quick Summary:

The tender offering stake to technical and financial partners in the Deen Dayal field, which ONGC had acquired from a Gujarat government firm for USD 1.2 billion, received no bids, two sources aware of the matter said.

ONGC on June 12 sought expression of interest from "global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy" for the field, according to the tender document.

State-owned Oil and Natural Gas Corporation's (ONGC) third attempt to get a partner to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal has met with the same fate as previous efforts as it got no bids, sources said.


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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 13:29:49 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 782 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23376269

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