ONGC able to arrest decline in its oil production

Jan 26, 2012 12:00 AM

ONGC CMD Sudhir Vasudeva said the company has been able to arrest the decline in its oil production, maintaining it at the level of 1 to 1.5 %, and asserted that it was for the government to decide on its proposed 5 % follow-on public offer.
Vasudeva said the world-over, the decline in oil companies' production is 4 % to 5 %, but ONGC has maintained the decline in oil production at the rate of 1 % to 1.5 %.

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