Home News Industry News ONGC to invest Rs.10,600 Cr in western offshore fields

    ONGC to invest Rs.10,600 Cr in western offshore fields

    506

    western offshore fieldsOil and Natural Gas Corp., India’s biggest energy explorer, will invest Rs.10,600 crore in raising production from its western offshore fields. ONGC board has approved third phase of redevelopment of its prime Mumbai High South oil and gas field at a cost of Rs.6,069 crore and integrated development of Mukta, Bassein and Panna formations at an investment of Rs.4,620 crore. The Mumbai High South Redevelopment (Phase-III) will lead to incremental gain of 7.547 million tonne crude oil and 3.864 billion cubic meter gas by 2030. The project comprises drilling 36 new wells and 34 sidetrack wells, and facilities. The facilities under the project are scheduled to be installed by April, 2017. Drilling of wells and the overall project completion is scheduled for March, 2019.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here