May 29, 2017 / 12:00 PM / 2 months ago

BRIEF-India's ONGC exec says in talks with other oil cos regarding merger

1 Min Read

May 29 (Reuters) - India's ONGC

* Exec says have started working on phase 2 of 98/2 basin in east coast

* Exec says we will submit field development plan for phase 2 in next one year

* Exec says talking to strategic investors for divestment in petchem company Opal

* Exec says there has been no official communication from government to ongc regarding merger of state-run oil cos

* Exec says we have held several meetings with other oil companies regarding the merger

* Exec says current domestic gas price is not sustainable for ONGC but will not defer investment

* Exec says have asked government to review gas price formula

* Exec says there will be an additional impact of around 25 billion rupees due to GST Further company coverage: (Reporting By Swati Bhat)

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