The troubled Deen Dayal field operated by Gujarat State Petroleum Corporation (GSPC) off India’s east coast is likely to be acquired by state-controlled Oil & Natural Gas Corporation (ONGC).
This could inject fresh life into the gas field, where production has been delayed by more than three years.
ONGC signed a preliminary agreement this year with GSPC to acquire an operating stake in offshore block KG-OSN-2001/3 in the Krishna Godavari basin, which hosts Deen Dayal.
