Oil India to bid with Tata Petrodyne for ONGC fields

Vol 8, PW 25 (23 Mar 05) News in Brief
     

Tata Petrodyne and Oil India have decided to jointly bid in ONGCs ongoing tender for 19 offshore marginal fields.

We understand discussions are at an advanced stage and that a MoU is imminent. The focus of the MoU will be the marginal fields, reveals a source.

But it will also cover cooperation in other upstream areas. Tata Petrodyne sees Oil India as an integrated exploration and production company.

Oil India wants to benefit from Tata Petrodynes geological and geophysical expertise as well as its managerial capabilities. Oil India is also looking for more experience in operating offshore assets to add to its vast experience in operating onland assets.

Its not yet clear who will be operator if the partnership emerges successful in the bid for ONGCs offshore marginal fields. We could either operate the fields jointly or one company will operate one field and the other will operate another field.