India ONGC To Invest $5.1B In 4 Years In East Coast Oil Gas Asset

Reuters

NEW DELHI, Sept 30 (Reuters) - India's Oil and Natural Gas Corporation will invest 340.12 billion rupees ($5.11 billion) in four years to develop cluster 2 of east coast deepwater block, the company said in a tweet on Friday.

These fields are expected to reach a net peak production of 77,000 barrels per day (bpd) of crude oil and 16.29 million metric standard cubic metres per day (mmscmd) of gas by 2021/22 fiscal year, the company had said earlier.

(Reporting by Nidhi Verma; Editing by Malini Menon)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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