The rejection of the planned strategic tie-up was reportedly due to the lack of a work programme commitment being agreed between BG and ONGC.
"Considering this, as well as the fact there has been significant interest and highly competitive terms offered by companies for KG blocks under New Exploration Licensing Policy (Nelp) rounds, it is difficult to appreciate why ONGC received only one offer for the KG blocks," indianpetro.com
