State-owned Oil and Natural Gas Corporation (ONGC) has sold initial gas it is producing from its KG basin fields in the Bay of Bengal to three firms, including Torrent Gas, sources said.
State-owned Oil and Natural Gas Corporation (ONGC) has sold its initial gas production from the KG basin fields to three firms, including Torrent Gas. The company sold 1.4 million standard cubic meters per day in an e-auction. GAIL bought 0.8 mmscmd, HPCL bought 0.42 mmscmd, and Torrent bought 0.12 mmscmd.
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State-owned Oil and Natural Gas Corporation has sold initial gas it is producing from its KG basin fields in the Bay of Bengal to three firms, including Torrent Gas, sources said. In an e-auction, the firm sold 1.4 million standard cubic meters per day - a fraction of the planned output from the block that sits next to Reliance Industries' prolific KG-D6 area in the Bay of Bengal, to Torrent Gas Pune Ltd., GAIL Ltd. and Hindustan Petroleum Corporation Ltd.