India tightens oversight of ONGC, OIL

India’s Ministry of Petroleum and Natural Gas has created individual committees to monitor work in legacy oil and gas fields of the two main state-owned producing companies.

The Directorate General of Hydrocarbons will lead committees overseeing resource development by Oil & Natural Gas Corp. and Oil India Ltd.

The committees will require ONGC and OIL to submit status reports and plans for work in “nomination fields”—those on licenses the government granted directly before it began offering production-sharing contracts competitively.

The companies will have representatives on their respective committees.

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