State-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement to buy a stake in Gujarat government firm GSPCÂ´s KG basin gas block, according to a reportin the Business Line.
The government has highlighted Oil & Gas (O&G) as a priority sector as part of its Â‘Make in IndiaÂ’ campaign. The focus in O&G will be on Oil Field Services and Equipment (OFS). An interesting model could be Malaysia and Dubai kind of service hubs on the east coast and west coast of the country.
The government has highlighted Oil & Gas (O&G) as a priority sector as part of its Â´Make in IndiaÂ´ campaign. The focus in O&G will be on Oil Field Services and Equipment (OFS). An interesting model could be Malaysia and Dubai kind of service hubs on the east coast and west coast of the country.
Gujarat Gas Co (GGCL) has executed a long-term gas supply contract with its parent Gujarat State Petroleum Corporation (GSPC) for the purchase of 0.65 million metric standard cubic metre per day (mmscmd) for next 12 years. Under the agreement, GSPC will supply imported re-gassified liquefied natural gas (R-LNG) to GGCL from 1 January 2014 up to 1 July 2025. The move is seen as a major relief for GGCL, as it will get assured gas supply for a long period.
By 2016, natural gas-based power plants may get about 6-10 million standard cubic feet per day (mscmd) of gas from the new fields of ONGC (Oil and Natural Gas Corp) and GSPC (Gujarat State Petroleum Corp). Supply of gas from these new fields may compensate partially the shortage of gas owing to reduction in output from Reliance Industries (RIL)Â’s KG-D6
Gujarat State Petronet Corporation (GSPC) and Adani Enterprises (AEL) are jointly setting up a liquefied natural gas (LNG) terminal at Mundra in GujaratÂ’s Kutch district. The joint venture is in the process of roping in a strategic investor for 25 per cent stake in the project. It is learnt that eight firms, including India Gas Solutions, the joint
ONGC and GSPC would be able to produce about 4-5 mmscmd of additional natural from their fields in 2013-14. A similar additional volume may be available in the next fiscal and a further 2 mmscmd from GSPC in 2015-16. This additional output will have to make up for fall in KG-D6 this fiscal and the next as also meet 3.8 mmscmd need of 5 newly converted fertiliser plants for whom allocation had previously been approved by the cabinet and