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.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
