"(We have) not decided yet," Mr. Deora said when asked about a potential bid from ONGC.
Separately, ONGC Chairman R.S. Sharma declined to comment on the matter.
London-listed miner Vedanta Resources PLC and Cairn Energy announced on Aug. 16 that Vedanta Group would buy 51%-60% of Cairn India Ltd. for $8.5 billion-$9.6 billion.
Cairn India's key asset is a 70% stake in the RJ-ON-90/1 oil block at Barmer in Rajasthan state, in which it is the operator. ONGC holds the remaining 30% stake. The companies began production at the Mangala field in the block in August 2009.
Earlier Monday, the Mint newspaper reported that India may disapprove of the proposed deal as it wants U.K.-based Cairn Energy to offer ONGC a chance to buy the stake.
Indian Oil Secretary S. Sundareshan said the government is awaiting the response of Cairn Energy on queries about the proposed stake sale.
"They (Cairn Energy) have not yet come back. We have asked the company for clarification and an explanation of (the) production sharing contract," he told reporters.
"As soon as we hear from them, we will decide on merit," Mr. Sundareshan said, when asked whether the government may block the Cairn-Vedanta deal and if ONGC would launch a counter-offer.
Mr. Sundareshan said on Aug. 16 the deal would require government approval and that the government would keep ONGC's interest in mind before giving its nod.
Source http://online.wsj.com/article/SB10001424052748703846604575447011435780700.html
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