Tuesday, March 27, 2007

Govt Unlikely To Permit ONGC-BP Alliance For Kutch Block

New Delhi: British Petroleum (BP) may have to use its persuasive skills to the hilt in order to convince the Petroleum Ministry to allow it to come in as a strategic partner in ONGC''s exploration block in Gujarat''s Kutch basin. Both BP and ONGC have been trying to ask the Ministry''s approval for strategic tie-ups for GK-DW-1 block in the Kutch basin where the two have already chalked out a work programme. The GK-DW-1 block was awarded to ONGC on nomination basis and the exploration licence of this block is effective up to September 2009. The British company has also proposed that it would like to conduct a joint technical study with ONGC, which would better define the prospects in the area.

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