ONGC Mulls Exploration Services Subsidiary For Abroad Projects

Kolkata: ONGC is considering floating an exploration service subsidiary for taking up overseas projects for ONGC Videsh Ltd (OVL). The new company is likely to be operated by ONGC''s existing manpower in exploration and production. Apart from ensuring higher revenues for the group, the proposals, which will soon be placed before the committee of executive directors of ONGC is targeted at improving the company''s efficiency in exploration and production at home and also, check flight of human capital.