ONGC may buy 60% in exploration block

KOLKATA: ONGC may acquire 60% and operatorship for the onland block AA-ONJ/2 from the Indian arm of the UK-based Tullow Oil, which is exiting the exploration block.

“We have expressed willingness to acquire 60% relinquished stake and operatorship for the block. ONGC board has already approved the acquisition. We have formally applied to DGH for a formal approval from the Centre,” an ONGC spokesperson said.