ONGC to spend Rs15,300 cr on K-G gas discovery

Domain-B: Oil and Natural Gas Corp (ONGC) is reportedly planning to invest $2.894 billion (about Rs15,340 crore) in developing its ultra-deep sea UD-1 gas discovery in the Krishna-Godavari basin by 2016-17. The UD-1 gas discovery can produce for 14-15 years with peak of about 20 million cubic metres per day (mmcmd) lasting for five years. It may hold 4.257 trillion cubic feet of gas reserves. The company detailed the production profile and

Image Link Flickr

the likely investment in the revised proposal for declaring the UD-1 find as commercially viable (called declaration of commerciality). Block KG-DWN-98/2 sits next to Reliance Industries' KG-D6 block where drop in reservoir pressure and water/sand ingress has seen output dip by over 35 per cent to just over 39 mmcmd.domain-b.com : ONGC to spend Rs15,300 cr on K-G gas discovery

Back To Top

Tell-Us