Oil and Natural Gas Corporation (ONGC) has officially taken over the operations of the CB-OS/2 offshore block on India’s west coast, following directions from the Ministry of Petroleum & Natural Gas (MoPNG). The move comes after the government rejected the application for an extension of the Production Sharing Contract (PSC) filed by the existing contractor consortium comprising Vedanta Limited, ONGC, and Tata Petrodyne Ltd.
The CB-OS/2 block, awarded on June 30, 1998 under the Pre-New Exploration Licensing Policy (NELP), includes the producing Lakshmi and Gauri fields. After a commercial discovery in 2002, the block has been contributing around 3,400 barrels of oil per day along with 340,000 standard cubic meters of gas per day (SCMD).
In its communication dated September 19, 2025, the Ministry directed ONGC to take charge as the Government Nominee. This includes assuming control of all data, assets, operations, and responsibilities related to the block.
The Ministry clarified that the decision to hand over operations to ONGC is a purely interim measure, aimed at ensuring continuity of petroleum production and safeguarding national energy reserves until the block is reassigned to another operator.
