n engineer of Oil and Natural Gas Corp (ONGC) works inside the Kalol oil field in Gujarat September 12, 2009. Reuters/Amit Dave

State-run Oil & Natural Gas Corp may file the draft prospectus for its share sale this week, its chairman A.K. Hazarika said on Wednesday.

He also told reporters the company is looking for foreign partners to bid in India's latest exploration licensing round.

ONGC's finance chief D.K. Sarraf told Reuters earlier this month the company would file for its planned share sale by the end of February.

The Indian government, which owns 74.14 percent of ONGC, plans to sell 5 percent in the offer as part of wider plan to sell stakes in about 60 state-run firms over the next few years to cut its fiscal deficit and garner funds for the poor.