BG wants to buy stake in ONGCs oil, gas blocks
BG group of the UK is keen on picking 25-30% stake in state-run Oil and Natural Gas Corp's (ONGC) Krishna Godavari and Mahanadi basin deepsea oil and gas exploration blocks off the east coast. BG has expressed interest to take 30% interest in KG basin Block KG-DWN-98/4, which ONGC had won in the first round of auction under New Exploration Licensing Policy (NELP) and 25% in Mahanadi basin Block MN-DWN-2002/2 that the state-run firm had won in NELP-IV. "We have approached the government for approval of the farm-in,' a company official said.