Business Services Industry
INDIA: Plans for proposed $450,000,000 oil and natural gas field development project, OIL & NATURAL GAS CORPORATION LTD. (ONGC) [India].
WWP-Business Opportunities in Asia & the Pacific, April, 2002
PROJECT OVERVIEW:
The local OIL & NATURAL GAS CORPORATION LTD. (ONGC) was recently granted 16 oil and natural gas blocks awarded under the second round of India's new exploration and licensing policy. As a result, ONGC is planning to invest a total of $450,000,000 in order to develop its properties in a 3-stage development scheme.
The blocks in question are located in diverse geological and logistic settings in onshore, shallow offshore and deep offshore areas of 8 basins i.e., Cambay, Mumbai Offshore, Cauvery, Saurashtra, Mahanadi, Kerala-Konkan, Bengal and Ganga Valley. While ONGC will be working on a risk basis in 6 blocks, it will be the main Operator in 9 blocks, in partnership with IOC, GAIL, OIL and GSPC. OIL, on the other hand, will be the...
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