![ONGC seeks partners to rescue Deen Daval gas field in KG basin](https://cdn.magzter.com/1560517598/1719180545/articles/gEPQZZQIX1719187709216/ONGC-SEEKS-PARTNERS-TO-RESCUE-DEEN-DAVAL-GAS-FIELD-IN-KG-BASIN.jpg)
AFTER 7 YEARS & $1.2 BILLION INVESTMENT
After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal.
ONGC on June 12 sought expression of interest from "global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy" for the field, according to the tender document.
The field has produced negligible quantities of gas since ONGC in January 2017 acquired Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block off the east coast of India.
The block contains the Deen Dayal West (DDW) gas/condensate field which was discovered by GSPC almost two decades back. The Gujarat government company had showcased the field as a promising prospect when it sold its stake to ONGC in order to cut its debt.
The field, which was initially said to hold up to 20 trillion cubic feet of in place gas reserves - by far the biggest in any deepsea field in the country - but later trimmed to a tenth, has proved to be tougher than anticipated.
This story is from the June 24, 2024 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 24, 2024 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
![Naomi Osaka wins at Wimbledon for the first time in six years](https://reseuro.magzter.com/100x125/articles/19571/1752588/3sNN_w2hI1719957767578/NAOMI-OSAKA-WINS-AT-WIMBLEDON-FOR-THE-FIRST-TIME-IN-SIX-YEARS.jpg)
Naomi Osaka wins at Wimbledon for the first time in six years
Naomi Osaka had not won a match at Wimbledon in six years.
!['Kotak's offshore fund helped investor profit from Adani stocks'](https://reseuro.magzter.com/100x125/articles/19571/1752588/hskUlDcU91719957639660/KOTAKS-OFFSHORE-FUND-HELPED-INVESTOR-PROFIT-FROM-ADANI-STOCKS.jpg)
'Kotak's offshore fund helped investor profit from Adani stocks'
The US short-seller Hindenburg Research said it had disclosed that it had bets against the group, adding that its gains were only over $4 mn
![Mineral blocks: India in talks with Africa & Latin America](https://reseuro.magzter.com/100x125/articles/19571/1752588/kEA-lE4sr1719957558940/MINERAL-BLOCKS-INDIA-IN-TALKS-WITH-AFRICA-LATIN-AMERICA.jpg)
Mineral blocks: India in talks with Africa & Latin America
‘The mines ministry is giving more and more importance to exploration of critical minerals in India’
![France's Le Pen says will lead a govt only with an absolute majority](https://reseuro.magzter.com/100x125/articles/19571/1752588/Jfun9GGDa1719957461310/FRANCES-LE-PEN-SAYS-WILL-LEAD-A-GOVT-ONLY-WITH-AN-ABSOLUTE-MAJORITY.jpg)
France's Le Pen says will lead a govt only with an absolute majority
The star president of France’s National Rally will take the helm of government only if the party wins an absolute majority in Sunday’s second round of legislative elections, the leading far-right figure Marine Le Pen said Tuesday.
![Won't comment on new criminal laws: CJI Chandrachud](https://reseuro.magzter.com/100x125/articles/19571/1752588/M0CV_o7Rm1719957383359/WONT-COMMENT-ON-NEW-CRIMINAL-LAWS-CJI-CHANDRACHUD.jpg)
Won't comment on new criminal laws: CJI Chandrachud
Amid a heated debate over the three new criminal laws, Chief Justice of India (CJI) D Y Chandrachud on Tuesday refused to comment on them, saying the issues arising from these statutes were pending before the Supreme Court.
Delhi HC judge to inspect Central and Southern Ridge
The Delhi High Court has said it will carry out a “physical examination” of the Central Ridge and Southern Ridge in order to assess the extent of afforestation and cutting of trees in the area.
!['Being 100-crore girl definitely has nice ring to it'](https://reseuro.magzter.com/100x125/articles/19571/1752588/UREC4jzWq1719957155498/BEING-100CRORE-GIRL-DEFINITELY-HAS-NICE-RING-TO-IT.jpg)
'Being 100-crore girl definitely has nice ring to it'
The horror-comedy movie ‘Munjya’ has entered the Rs 100 crore club, grossing Rs 112 crore at the domestic box office
![Opposition in RS attacks govt over paper leaks, demands to scrap NEET](https://reseuro.magzter.com/100x125/articles/19571/1752588/3DXgxwU871719957059018/OPPOSITION-IN-RS-ATTACKS-GOVT-OVER-PAPER-LEAKS-DEMANDS-TO-SCRAP-NEET.jpg)
Opposition in RS attacks govt over paper leaks, demands to scrap NEET
Opposition members on Tuesday cornered the government in the Rajya Sabha over the recent examination paper leaks, saying it is hurting the future of the youths and the morale of students who have toiled hard.
Expanding green cover: Delhi govt to launch plantation drive from July 11
The Kejriwal government is set to launch a major plantation and distribution campaign starting July 11, aimed at expanding the green cover in Delhi.
Over 6.71 lakh hit by floods in Assam
Assam’s flood situation remained critical on Tuesday with over 6.71 lakh people affected in 20 districts in the second wave of flooding this year, as the Indian Air Force (IAF) rescued 13 stranded fishermen from the severely-hit Dibrugarh district, an official said.