The Ministry of Petroleum & Natural Gas has directed ONGC to take control of the CB-OS/2 Block after rejecting the extension of the Production Sharing Contract (PSC). The CB-OS/2 Block, an offshore block on the west coast of India, currently produces 3400 Barrels of oil per day and 340000 SCMD of gas. This direction is an interim measure to maintain continuity of petroleum operations.
Government Directive Regarding CB-OS/2 Block
The Government of India, through the Ministry of Petroleum & Natural Gas, has issued a directive concerning the CB-OS/2 Block. The communication, dated 19th September 2025, addresses contractor parties involved in the block.
Rejection of Production Sharing Contract Extension
The core of the government’s directive involves the rejection of the application for the extension of the Production Sharing Contract (PSC) filed by the contractor for the CB-OS/2 PSC Block.
ONGC’s Role and Responsibilities
As a result of the PSC extension denial, ONGC has been directed to assume control of all data, assets, operations, and responsibilities associated with the CB-OS/2 Block. This action positions ONGC as the Government Nominee for the block.
Block Details and Current Production
The CB-OS/2 Block is located offshore on the west coast of India. Currently, the block, which includes the Lakhsmi and Gauri fields, produces 3400 barrels of oil per day and 340000 SCMD of gas.
Interim Measure for Operational Continuity
The government’s directive for ONGC to take control is described as an interim measure. This is designed to maintain the continuity of petroleum operations, safeguarding petroleum reserves until a final decision is made regarding the block’s future management.
Source: BSE
