Once all formalities are completed, the ONGC consortium will spend about Rs 1,700 crore (Rs 17 billion) on developing these three blocks, sources indicated.
Reliance Industries Ltd (RIL) has opposed the proposal of a new pipeline from Kakinada to Srikakulam floated by Andhra Pradesh Gas Infrastructure Corporation (APGIC). RIL has argued that gas availability for the pipeline is uncertain and will not contribute to the development of a national gas grid.
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