ONGC's Mumbai High, Vasai East came close to being sold

Agencies
March 17, 2019

New Delhi, Mar 17: State-owned ONGC's nine biggest oil and gas fields, including Mumbai High and Vasai East, came tantalisingly close to being sold to private and foreign companies but the plan was nixed after strong opposition from within the government, sources said.

A high-level committee headed by Niti Aayog Vice Chairman Rajiv Kumar late last year considered "transferring" western offshore oil and gas fields of Mumbai High, Heera, D-1, Vasai East and Panna as well as Greater Jorajan and Geleki field in Assam, Baghewala in Rajasthan and Kalol oilfield in Gujarat to private/foreign companies.

Multiple sources in Niti Aayog and government said, the plan to give away fields producing 95 per cent of India's current oil and gas could not go through because of very strong opposition from Oil and Natural Gas Corp (ONGC) as well as some quarters within the government who found something amiss in the proposal.

Besides the 9 fields, 149 marginal fields, that contribute about 5 per cent of the domestic production, were to be clustered and bid out.

While ONGC opposed giving away on a platter to private/foreign sector what it discovered after years of toil and spending billions of dollars over last four decades, some in government were not convinced by the incremental potential toyed with to get the proposal through, they said adding it wasn't clear how the incremental output numbers were arrived at in absence of any real basin or field study by the panel.

The proposal brought before the panel, which was appointed by Prime Minister Narendra Modi in October last year to boost stagnant output from aging fields of public sector oil companies, was to give private/foreign companies complete marketing and pricing freedom after getting from them an enhanced production profile for the fields.

National oil companies (NOCs) were to get 10 per cent of incremental output over business as usual (BAU) scenario, sources said.

This was a second attempt to take away some of the fields of ONGC for giving to private and foreign companies.

In October 2017, the Directorate General of Hydrocarbons (DGH) had identified 15 producing fields with collective reserve of 791.2 million tonne of crude oil and 333.46 billion cubic metres of gas of NOCs for handing over to private firms in the hope they would improve upon the baseline estimate and their extraction.

The plan, however, could not go through as ONGC strongly countered the DGH proposal with its own proposal that it be allowed to outsource operations on the same terms as the government plan.

Private and foreign companies have generally shied away from taking up exploration blocks and have instead been lobbying for getting a stake in producing oil and gas fields of ONGC and Oil India Ltd (OIL) saying they can raise output by bringing in capital and technology.

NOCs, on the other hand, contend that they do not have pricing and marketing freedom and they too can get the technology given the same is provided.

The final report that the Rajiv Kumar-led committee submitted on January 29, had watered down the proposal by recommending freedom to NOCs to choose field specific implementation model including farm out, joint venture or technical service model for raising output from the fields that contribute 95 per cent of the current output.

Pricing and marketing freedom for any new field development plan that they bring was also recommended.

Sources said, 64 small and marginal fields of ONGC and two of OIL were recommended to be bid out within four months and NOCs allowed to retain 54 others (49 by ONGC and 3 by OIL) where enhanced oil recovery/improved oil recovery schemes were under implementation.

The recommendations have been accepted by the government.

The overhauled policy notified by the government provides for complete marketing and pricing freedom for oil and gas produced from areas bid out in future bid rounds.

Oil and gas acreage or blocks in all future bid rounds will be awarded primarily on the basis of exploration work commitment, it said adding companies will not have to share any profit with the government on oil and gas produced from less explored areas.

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News Network
April 3,2020

Washington, Apr 3: The World Bank has approved USD 1 billion emergency funding for India to help it tackle the coronavirus pandemic, which has claimed 76 lives and infected 2,500 people in the country.

The World Bank's first set of aid projects, amounting to USD 1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday.

The largest chunk of the emergency financial assistance has gone to India USD 1 billion.

"In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards," the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

In South Asia, the World Bank also approved USD 200 million for Pakistan, USD 100 million for Afghanistan, USD 7.3 million for the Maldives and USD 128.6 million for Sri Lanka.

The World Bank said it was now working to grant up to USD 160 billion over the next 15 months to support measures to tackle the pandemic which will focus on the immediate health consequences and bolster economic recovery.

The broader economic program will aim to shorten the time to recovery, create conditions for growth, support small and medium enterprises, and help protect the poor and vulnerable.

"The World Bank Group is taking broad, fast action to reduce the spread of COVID-19 and we already have health response operations moving forward in over 65 countries," said World Bank Group President David Malpass.

"We are working to strengthen (the) developing nations' ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery," Malpass said.

According to the bank, USD 100 million will support Afghanistan to slow and limit the spread of COVID-19 through enhanced detection, surveillance, and laboratory systems, as well as strengthen essential health care delivery and intensive care.

In Pakistan, USD 200 million will support preparedness and emergency response in the health sector and include social protection and education measures, the bank said.

A total of 1,002,159 COVID-19 cases have been reported across more than 175 countries and territories with 51,485 deaths reported so far, according to Johns Hopkins University data.

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News Network
March 26,2020

New Delhi, Mar 26: Despite repeated assurances by the Centre and state government of no shortage of food and essential services in Delhi, many daily wage earners have started fleeing the national capital on foot to return to their native villages in nearby Uttar Pradesh and other states because of the hardships being faced by them.
Most daily wage earners who are fleeing have complained that they are doing so because they will die of hunger due to lack of resources at their disposal.
"I am going to Azamgarh, my native place which is more than 800 kilometers from here. We have started walking towards our village. On the roads, if we get some vehicles then it will be all right otherwise we will continue on foot. I used to work in the construction sector but all work has stopped, we therefore have no other means to buy our rations. Atleast, food is guaranteed in our homes," Ghanshyam, a daily wage earner, told ANI here.
Rani, another daily wage earner, who was fleeing Delhi along with her family said, "Who would want to leave on foot, but what other options do we have. Our children will die of hunger, even if they are saved from the disease. That is why we are leaving."
While the government has been assuring that it will provide food and other essentials to the low-income groups, the people complained that they are yet to receive any help.
The departing of people has started despite repeated warnings by governments to prevent the influx of persons living in other states to curtail the spread of coronavirus.
Prince, who used to reside in Mongolpuri area of Delhi, said, "If we continue to stay the landlord will pester us for rent. The prices of all commodities are rising with each passing day, this way we will have nothing left to survive. We did not get any help from the government. I am, therefore, returning to Kasganj, which is close to 300 kilometres from Delhi. We will at least get food served twice a day in the village, nobody is offering us even water here."
Earlier on Tuesday, Delhi Chief Minister Arvind Kejriwal had announced Rs 5,000 for each construction worker under Construction Workers Welfare Board Fund.
Addressing a video conference here, he said, "The Delhi government will give Rs 5,000 to each construction worker as their livelihood has been affected due the outbreak of coronavirus."
He also said that the number of night shelters in the city has been increased and more food is being distributed to homeless people.
He also said that due to curfew, several people were not able to get food, and urged the public to send such people to the nearest shelters of the Delhi government, where food was being arranged.

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News Network
July 10,2020

New Delhi, Jul 10: With the highest single-day spike of 26,506 COVID-19 cases and 475 deaths reported in the last 24 hours, the total number of COVID-19 cases in India reached 7,93,802 on Friday, according to the Union Ministry of Health and Family Welfare.

Out of the total number of cases, 2,76,685 are active, 4,95,513 have been cured/discharged/migrated and 21,604 have died so far due to the infection.

With as many as 2,30,599 COVID-19 cases, Maharashtra continues to remain the worst-affected state, followed by Tamil Nadu (1,26,581) and Delhi (1,07,051).

Meanwhile, 2,83,659 samples were tested for coronavirus on Thursday, taking the total number of samples tested up to July 9 to 1,10,24,491, according to the Indian Council of Medical Research (ICMR).

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