ONGC to invest Rs. 8,554-crore in western offshore fields by 2012

摘要

Oil and Natural Gas Corporation (ONGC) will invest Rs. 8,554-crore in producing crude oil from two cluster of marginal fields in the western offshore by 2012. The ONGC board recently approved developing B-22 cluster and B-193 cluster at an estimated cost of Rs. 8,554.26-crore with foreign exchange component of $1.697-bn, a company release said. "The idea of combining two projects by way of offloading the process requirement and related facilities, erstwhile considered to be taken up separately, would amount to a savings of about $133-mn," it said. The investment would help produce 10-mt of oil and 11.5-bcm (billion cubic metres) of gas over a 15-year period. "While the gas production will commence by 2011, oil production is to begin by 2012."