Nearly four months after Reliance Industries Limited (RIL) signed a deal with British Petroleum (BP) for getting BP’s technology for deep-sea exploration, state-run Oil and Natural Gas Corporation (ONGC) is in talks with BG Exploration and Production, India, and Italian exploration and production major, ENI, to sell up to 30 per cent stake in its Krishna-Godavari DWN 98/2 block. Cairn India is already a 10 per cent partner in the block.
The block is right next to the KG-D6 block of RIL in the K-G basin, off the east coast.RIL in February sold 30 per cent stake in 23 of its oil and gas blocks to BP for $7.2 billion, as part of a long-term deal that involves a total investment of $20 billion.The discoveries in KG-DWN-98/2 and three in adjacent blocks together hold 6.37 trillion cubic feet (tcf) of in-place reserves. RIL’s KG block holds in place reserves of 11.3 tcf. ONGC, along with its partners, plans to spend around Rs 36,000 crore on developing the block.
KG-DWN-98/2, which has 10 gas discoveries, was awarded under the New Exploration Licensing Policy, which allows ONGC to farm out a participating interest (equity stake) to foreign firms. ONGC plans to tie up its KG basin discoveries with six gas finds in neighbouring 1G block and is seeking approval from the oil ministry. The ministry, however, is taking time to grant approval. Block 1G was given to ONGC on nomination basis. It cannot sell stake to any firm and can at best involve a foreign firm as a service contractor.ONGC has partnership with BG India in three blocks in KG offshore, two operated by ONGC and one operated by BG. Petrobras and ENI have also partnership in one block each.crackcrack
| Company Name | CMP |
|---|---|
| ONGC | 244.00 |
| Oil India | 445.05 |
| Jindal Drilling&Inds | 750.20 |
| Hind Oil Exploration | 194.95 |
| Deep Industries | 614.05 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
