Oil and Natural Gas Corp, which had last year firmed up an investment of Rs 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528.10 crore (USD 3.2 billion) in developing the ultra-deepsea UD-1 find.
State-owned Oil and Natural Gas Corp (ONGC) plans to invest USD 2.894 billion (about Rs 15,340 crore) in developing its ultra-deepsea UD-1 gas discovery in the Krishna Godavari basin by 2016-17.
State-owned Oil and Natural Gas Corp (ONGC) plans to invest $4.05 billion in producing natural gas from its ultra deepsea UD-1 discovery in a block that sits next to Reliance Industries' prolific KG-D6 fields.
An expert panel approved policy for development of gas fields.
The state-run Oil and Natural Gas Corporation (ONGC) has agreed to pay over Rs 3,914.39 crore (Rs 39.14 billion) for hiring an ultra deep-sea drill rig from Reliance Industries for four years, a top company official said.
State-owned Oil and Natural Gas Corp (ONGC) has signed a contract to hire a long-idled ultra-deepwater drillship of US-based Transocean for $412,000 (about Rs 2.39 crore) per day.
Oil and Natural Gas Corporation had in 2007 farmed out 15 per cent stake in the KG-DWN-98/2 block, which sits next to Reliance Industries' KG-D6 block, to Brazil's state-controlled oil firm Petroleo Brasileiro SA or Petrobras.
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