New Delhi: Moving Harking Back to the reign of PV Narasimha Rao, the Ministry of Oil has requested the Government-managed ONC to submit ownership and control of Mumbai High and Bassein and satellite fields to foreign companies with the view of increasing production.
On October 28, the additional secretary (exploration) at the Ministry of Amar Nath wrote to the Chairperson of the ONC Subhash Kumar said the company gave 60% PI (participating interests) in this field and operators to international partners when production is currently low.
Mumbai High is the largest gem of the country’s crown and gas source bassein.
The offshore field together contributed 50% domestic gas and more than 23% of oil production.
Also read High High HIGHIRLIVE SOLDNEW DELHI: But for a man who swims against the install, Offshore Offshore Bombay Offshore – which supplies 14 percent of the country’s oil needs and accounts for almost 38 percent of all domestic oil production – may have been submitted to Global Oil Giant on March 31, 2004 TOI has reported how the two members committee was founded in 1992 by ONCC, which is a commission and the government deploying greater control over it, recommend submitting Bombay to other companies to other companies to operate.
The committee was established to check proposals from the US Exploration Major Occidental, which seeks to operate the field in return for several investments.
The plan was fired by the Whistleblower.
In the latest example, the sales pitch has been expanded to enter BASSEIN and its satellite.
This is the second time since April that Nath, who joined the Ministry as a Joint Secretary (exploration) in 2014 and is the director of the government that serves longest in the ONC board, has encouraged the company to move production fields.
He also repeated recommendations to save the drilling and technical service department at ONGC’s home, which would raise costs and leave the company at the mercy of the private service provider.
The main argument of Nath is that the global department will be able to increase production from OJC aging fields with their expertise and technology.
In his letter, Nath argues that increasing or replacing aging infrastructure will be a challenge for ONC because it will not be able to make quick decisions because of the procedural aspects of decision making.
Nath’s letter ignores the fact that the procedural aspects are all set by government laws in the parliamentary system.
He also misstuted that ONC could restore only 45% of Bassein’s reserves.
The fact is that 65% have been produced from Bassein, the oldest field, while the output of satellites increases gradually when they come in sequence.