India, Sept. 22 -- Oil & Natural Gas Corpn (ONGC) announced the Ministry of Petroleum & Natural Gas, Government of India vide its communication dated 19 September 2025, addressing to contractor parties (M/s Vedanta, M/s Oil & Natural Gas Corporation and M/s TATA Petrodyne) of CB-OS/2 PSC Block, has conveyed that application for extension of Production Sharing Contract (PSC) filed by Contractor has not been accepted.The CB-OS/2 Block is an offshore block in west coast of India, was awarded to the contractors, in Pre New Exploration Licensing Policy (NELP) PSC on 30.06.1998. Subsequent to commercial Discovery of Oil & Gas, PML was granted in 2002. The block consisting of Lakhsmi and Gauri fields is currently producing 3400 Barrels of oil per ...