Oil and Natural Gas Corporation (ONGC) expects peak gas output of 25-30 million standard cubic metre per day (mscmd) from its block off the country's east coast, Exploration Director NK Verma said. Gas production from the deep water block in the Krishna Godavari (KG) basin will begin in 2017. The northern part of the block holds over 2 trillion cubic feet (tcf) of gas, Verma said.
Tag: IT March 2014
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OVL joins hands with foreign banks to raise $2.5 billion
ONGC Videsh Ltd (OVL) has signed separate agreements with consortia of international banks for raising $2.5 billion offshore borrowings to fund the acquisition of a minority stake in an offshore gas field in Mozambique. The first agreement is signed with a consortium of international banks, including ANZ, Bank of Nova Scotia.
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