US supermajor ExxonMobil is in talks to buy stakes in producing oil and gas fields in India, according to the country's Petroleum Minister Dharmendra Pradhan. "ExxonMobil is in active discussion with some of our companies to participate in some of our producing fields," Pradhan said last week. While Pradhan did not name any of the oil companies or the producing fields that are likely to be involved, industry observers have suggested that field's operated by state-owned giants Oil & Natural Gas Corporation (ONGC) and Oil India Limited could be involved. ONGC last year signed an agreement with ExxonMobil to carry out joint technical studies, co-operate in offshore blocks and together bid for upcoming licensing rounds in India.
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