ONGC, Vedanta to win 9 oil, gas blocks each

Oil and Natural Gas Corp (ONGC) and Vedanta Ltd are set to win nine oil and gas blocks each in the latest auction.

While ONGC is a state-owned oil and natural gas minor, Vedanta, a multi-crore business conglomerate is led by mining billionaire Anil Agarwal.

According to a PTI report, Reliance Industries and its British partner BP Plc is set to retain a block that contains gas discoveries they had previously made.

Quoting sources, it said the Directorate General of Hydrocarbons (DGH) has completed the evaluation of the bids received for 32 oil and gas exploration blocks that were auctioned in the latest licensing round.

As per the bid evaluation, ONGC and Vedanta Ltd are top bidders in nine blocks each and state-owned Oil India Ltd (OIL) in 12 areas.

Image Credit : seeklogo.net

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