Revamp not to impact biz; in talks with global cos for large fields: ONGC

ONGC plans to acquire much larger acreage via open acreage licensing policy

The country's largest oil producer Oil and Natural Gas Corporation today defended its business prospects as also government strategy, stating that the ongoing discussions with all stakeholders was helping it raise issues important for the company and any "potential" restructuring of the company would not significantly affect the company.

Press Trust of India had, on April 25, reported the petroleum ministry has told ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in the Krishna Godavari basin gas fields, monetise existing infrastructure, and hive off drilling and other services into