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Enron contemplating withdrawal from oil, gas operations

Enron has approached the government for permission to withdraw from its present oil and gas operations at Panna-Mukta and Tapti fields.

Vice president (international operations) of Enron Mike Stewart and country manager of Enron Oil and Gas India Ltd Larry B Morse met Petroleum Minister Ram Naik with the proposal to withdraw from the field, where it is working as an operator, on the grounds that it was a corporate policy decision.

When contacted, Naik told PTI "we will examine the issue." The Enron officials in Delhi while confirming the meeting declined to comment on the issue saying they were not empowered.

Enron, Reliance and Oil and Natural Gas Corporation (ONGC) are the joint venture partners in the gas project which was awarded in early 1990s.

Naik said that Enron officials told him that they were happy with the way India's policy facilitated them to operate. Their decision to withdraw was part of company's worldwide strategy.

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