New Delhi, Nov 18: India 's largest exploration firm Oil and Natural Gas Corp is considering giving 2-3 per cent of its equity shares to workers as Employee Stock Option. "We are considering giving our 40,000 employees stock options (in all 4 crore shares)," said an ONGC director.

ONGC, which has appointed global consultant Mercer as its advisor, is the only state-run firm currently working on an ESOP. Mercer will help ONGC in designing and implementing the ESOP.
Initially, six consultants including Hewitt Associates, KPMG, PriceWaterHouse Coopers, Mercer, Ernst & Young and Watson Wyatt made presentations. Of these, three - KPMG, Mercer and Ernst & Young - were shortlisted for submitting formal proposals. Bureau Report