ONGC Takes Up Additional Interest in Gulf of Khambhat

At a meeting held Feb. 25, the Board of Oil and Natural Gas Corporation (ONGC) approved the following investment for a growth-oriented project.

ONGC will take up additional Participating Interest of 30 per cent in the development phase of Gulf-A in the Joint Venture block of CB-OS-1, at the northern-most end of Gulf of Khambhat. The ONGC's share (55.26%) of Capex would be US$ 57.209 million. The other partners in this JV are Tata Petrodyne and HOEC.

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