ONGC Takes Control of Cambay CB-OS/2 Block After Vedanta PSC Denial

24 Sep 2025 CW Team

Oil and Natural Gas Corporation (ONGC) is assuming control of the CB-OS/2 Cambay basin block following the government’s refusal to extend the production sharing contract (PSC) filed by Vedanta, the block’s operator.

On September 19, the Union Ministry of Petroleum and Natural Gas informed the contractor parties—Vedanta, ONGC and Tata Petrodyne—that Vedanta’s PSC extension application had not been approved. In a separate communication, ONGC was directed to take charge of all data, assets, operations and responsibilities linked to the block as the government nominee. The company confirmed the takeover in a filing to stock exchanges on Monday.

ONGC clarified that this direction is a “purely interim measure by the Government of India to ensure continuity of petroleum operations in public interest and safeguard petroleum reserves until the block is awarded to another party.”

The offshore CB-OS/2 block on India’s west coast, comprising the Lakshmi and Gauri fields, currently produces 3,400 barrels of oil per day and 340,000 SCMD of gas. Originally awarded to Cairn Energy India under the pre-New Exploration Licensing Policy (NELP) PSC in 1998, the block received a Petroleum Mining Lease (PML) in 2002 after commercial discoveries. Vedanta acquired a majority stake in Cairn Energy in 2011, which was later merged with the group.

Vedanta, through Cairn Energy, held a 40 per cent stake in the block, ONGC 50 per cent, and the remaining 10 per cent with Tata Petrodyne, now acquired by Invenire Energy.

Infrastructure Transport

04 Nov 2025

Madhya Pradesh Launches PM Shri Tourism Helicopter Service

Madhya Pradesh has achieved a national first by launching the PM Shri Tourism Helicopter Service, establishing India’s first intra-state air connectivity. Chief Minister Dr Mohan Yadav inaugurated the service at Raja Bhoj International Airport, Bhopal, marking a significant step towards transforming the state’s tourism infrastructure. Following the launch, four helicopters departed for Ujjain, symbolising the start of regional air tourism. The initiative, led by the Madhya Pradesh Tourism Board, will operate under a Public-Private Partnership (PPP) model, connecting the state’s key reli..

Garuda Aerospace CEO Honoured by Tamil Nadu Governor

Chennai, 3 November 2025: Agnishwar Jayaprakash, Founder and Chief Executive Officer of Garuda Aerospace, was felicitated by Tamil Nadu Governor Thiru R.N. Ravi for his exceptional contribution to India’s drone technology ecosystem. The recognition was presented during the Foundation Day celebrations of several States and Union Territories at Bharathiar Mandapam, Raj Bhavan, in Chennai. The honour acknowledges Jayaprakash’s leadership in strengthening the country’s unmanned aerial vehicle (UAV) capabilities and his efforts in harnessing technology for social good. He was also recognised..

Hindustan Zinc’s EcoZen Delivers 75 per cent Lower Carbon Emissions

Udaipur, 3 November 2025: Hindustan Zinc, the world’s largest integrated zinc producer and among the top five global silver producers, has reinforced its sustainability leadership with EcoZen, Asia’s first low-carbon zinc brand. The innovation achieves over 75 per cent lower carbon intensity than conventional zinc, setting new standards in green manufacturing and industrial decarbonisation. Produced using renewable energy and certified under REACH standards, EcoZen helps avoid an estimated 400 kg of carbon emissions for every tonne of steel galvanised. It supports India’s Viksit Bharat ..