ONGC plans up to Rs 65,000 cr investment for exploring KG-basin

ONGC has divided the deepwater block KG-DWN-98/2 into Clusters I, II and II

Shine Jacob  |  New Delhi 

State-run Oil and Natural Gas Corporation (ONGC) plans to invest up to Rs 65,000 crore ($10 billion) in its three allotted block in the Krishna-Godavari basin. The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. "For the three clusters, we plan an overall investment of $9-10 billion. Cluster III will be the deepest in India, extending to about 2,600 metres," Tapas Kumar Sengupta, director (offshore) of ONGC, said. The company has invited a formal expression of interest (EoI) from international consultants and service providers for ...

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ONGC plans up to Rs 65,000 cr investment for exploring KG-basin

ONGC has divided the deepwater block KG-DWN-98/2 into Clusters I, II and II

State-run Oil and Natural Gas Corporation (ONGC) plans to invest up to $10 billion (Rs 65,000 crore) in its three allotted block in the Krishna-Godavari basin. The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. "For the three, we plan an overall investment of $9-10 bn. Cluster III will be the deepest in India, extending to about 2,600 metres," Tapas Kumar Sengupta, director (offshore) of ONGC, told this newspaper.The company has invited a formal Expression of Interest (EoI) from international consultants and service providers for developing Cluster-III. "We have already submitted a Declaration of Commerciality with the Directorate General of Hydrocarbons (DGH) for Cluster III development. Currently, there are only 10 (petro) fields in the world ar such depth," he added.About 19 million standard cubic metres a day (mscmd) of gas is expected in this area, where ONGC is planning to drill at least nine wells. The company is to come up with a field ... State-run Oil and Natural Gas Corporation (ONGC) plans to invest up to Rs 65,000 crore ($10 billion) in its three allotted block in the Krishna-Godavari basin. The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. "For the three clusters, we plan an overall investment of $9-10 billion. Cluster III will be the deepest in India, extending to about 2,600 metres," Tapas Kumar Sengupta, director (offshore) of ONGC, said. The company has invited a formal expression of interest (EoI) from international consultants and service providers for ... image
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