ONGC eyes Shell, Petronas tie-ups

STATE-RUN ONGC is discussing technology tie-ups with global energy giants like Shell and Petronas for several offshore gas fields.

- ARUNIMA BHARADWAJ

The company has also firmed up plans to start production in a clutch of new fields, including the promising DWN-98/2 block in the deep waters of the Bay of Bengal, in a bid to arrest a declining trend in hydrocarbon production.

"We expect oil production to start growing again in the next couple of years," said Sushma Rawat, director (Exploration), ONGC. "In offshore, we are looking towards International E&P partners, other than companies from western countries, we are also looking towards Southeast Asian companies like Petronas, PTTEP plus other companies. Even with Shell, we are under discussions for our deepwater discoveries, since they have demonstrated their expertise in floating LNGs plants etc. It is just the beginning of the process and discussions with them. We are yet to share the actual data and finalise the deal," she said, underscoring the importance of technology tie-ups for new ventures like small LNG units.