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ONGC invests Rs 24,890 cr

ONGC invests Rs 24,890 cr

Oil and Natural Gas Corp (ONGC) said that it is investing Rs 24,890 crore in developing marginal oil and gas fields to make up for fall in production at old and ageing properties.  
The fields under development are: C-Series, B-22 cluster, B-193 cluster, B-46 cluster, North Tapti gas field, Cluster-7, BHE & BH-35, WO-16 cluster, G-1 & GS-15 and SB-14. These fie­lds are expected to be on stream by 2013-14, according to the co­mpany ONGC output has dip­ped to about 24 million ton­ne (mt) and the marginal fields will help it reach past glory of 28 mt. Production from Krishna Godavari basin GS-15 field will commence by mid-Septe­mber. ONGC will commission two la­rge petrochemical pro­j­e­cts in next two years.

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