 "Oil & gas, rig")
The Indian defence ministry and ONGC have started a thorough investigation into Chinese shareholding in rig operations in Indian waters, which is posing a security and surveillance threat to the country’s strategic sectors such as oil and gas.
Fresh guidelines will be issued to make them much more stringent for strategic sectors, say sources. The scrutiny started when it came to the government’s notice that Shelf Drilling, a company that operates one third of ONGC’s contracted jackup rig and earns a revenue of close to $220,000 a day, has China Merchant Group (a key member of Belt and Road Initiative)
