Business Services Industry
INDIA: Joint venture plans for proposed $53,000,000 gas field development project, OIL & NATURAL GAS CORPORATION LTD. (ONGC), RELIANCE INDUSTRIES LTD. (RIL) [India] & BG PLC [UK] - Order #: 076502.
WWP-Business Opportunities in Asia & the Pacific, July, 2002
PROJECT OVERVIEW:
The management committed of India's joint venture Tapti natural gas field recently approved a provisional investment of about $53,000,000 for the current and next financial year toward the development of the field.
The partners in the planned undertaking and their respective shareholdings include the local OIL & NATURAL GAS CORP. (ONGC - 40%) in conjunction with RELIANCE INDUSTRIES LTD. (RIL - 30%) and the UK-based BG GROUP PLC (30%). According to the terms of the collaborative agreement, ONGC will act as the lead partner.
ONGC employs a total staff of about 40,000 involved in oil and gas exploration and production. Its joint venture subsidiary, ONGC-JVG is responsible for the identification and development of new business...
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