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Our Bureau

Kolkata , Jan 10

ONGC has relinquished a total of four blocks (two offshore and two onshore) awarded in NELP-I and NELP II for various reasons.

Both offshore blocks in the Kerala-Konkan basin (KK-OSN-2000/1 and KK-OSN-97/3) were fully held by the exploration major.

IOC had non-operating stake in the remaining two on-land blocks - one each in Ganga valley (GV-ONN-200/1) and West Bengal (WB-ONN-2000/1).

Besides, Niko Resources and OIL have relinquished one block each, and one block has been relinquished by the Reliance-operated consortium.

According to sources in the office of Directorate-General of Hydrocarbons (DGH), ONGC has not been able to fulfil the minimum work programme within the agreed time schedule in more than one block that was relinquished.

Accordingly, the company is subjected to payment for the unfulfilled portion of the work programme.

"ONGC has agreed to pay the amount involved in the fourth week of this month," a DGH official told Business Line. However, he did not disclose the total payment involved.

Responses were not available from ONGC to queries on the issue.

According to the official, the Reliance-run consortium has already made payments towards unfulfilled work in the shallow water MB-OSN- 97/2 block held with Niko.

OIL was not granted environmental clearance for initiating work in Cauvery offshore block CY-OSN-97/2.

Niko has reportedly completed the prospecting as per the agreed schedule during the time of relinquishment.

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ONGC relinquishes four blocks in NELP I/II

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