This is a good time to develop existing discoveries, says ONGC CMD Sarraf

E&P companies need to learn not only to survive but also to grow in the low-price environment

Whether it was the takeover of Gujarat State Petroleum Corporation’s (GSPC) Krishna Godavari (KG) block or the gas migration dispute with Reliance Industries (RIL), Oil and Natural Gas Corporation (ONGC) dominated the headlines in the last financial year (FY17). In an interview with Jyoti Mukul and Shine Jacob, ONGC Chairman and Managing Director D K SARRAF talks about low oil prices and the need to adopt a contrarian view.

Edited excerpts:

As the biggest domestic player in the oil sector, what is your view on oil prices and how do you plan to tackle them? 

Though it is difficult