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ONGC to invest $8.8 bn in KG basin

Oil & Gas
August 1, 2015August 1, 2015
ONGC to invest $8.8 bn in KG basin
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State-owned Oil and Natural Gas Corp (ONGC) plans to invest over USD 8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19. ONGC has divided 12 oil and gas finds in the block KG-DWN-98/2 or KG-D5 and gas discovery in an adjacent G-4 block in the Bay of Bengal into three clusters to quickly bring them to production, a senior company official said.

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