With KG nod after 2 yrs, ONGC seeks new allies

Over two years after it first applied for permission to drill six more exploration wells in the KG basin KGDWN-98/2 block that it bought 90% of from Cairn India, the public sector ONGC finally got permission last fortnight. By which time, with its foreign partners fed up and leaving it, ONGC is now back to looking for new partners. One possible partner with whom discussions are being held, and the data on the block being shared with, is ConocoPhillips.