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    ONGC may develop east coast block alone

    State-run explorer ONGC, which was in talks with foreign players to develop its gas-rich exploration block in the Krishna Godavari basin, may develop the asset by itself, a senior company official said.

    January 12, 2011 / 14:10 IST
       
       
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      State-run explorer ONGC, which was in talks with foreign players to develop its gas-rich exploration block in the Krishna Godavari basin, may develop the asset by itself, a senior company official said.


      "Talks have been lingering on on this. We were thinking of finalising a partner by the end of January but looks like we may go alone," DK Pande, director for exploration at Oil and Natural Gas Corp, said.

      The development of the block off India's east coast is likely to cost USD 5 billion as per current estimates, he added.

      first published: Jan 12, 2011 02:07 pm

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