Business Services Industry
INDIA: Joint venture development plans for proposed $800,000,000 gas production expansion project, BG INDIA [India/UK], OIL & NATURAL GAS CORPORATION LTD. (ONGC) & RELIANCE INDUSTRIES LTD. (RIL) [India] - Order #: 095902.
WWP-Business Opportunities in Asia & the Pacific, September, 2002
PROJECT OVERVIEW:
An Indian joint venture is currently gearing-up to double the gas production volume coming from its Panna, Mukta and Tapti gas and oil fields. The partners in the planned undertaking and their respective shareholdings include BG INDIA, a subsidiary of UK-based BG PLC (30%), in conjunction with the OIL & NATURAL GAS CORPORATION LTD. (ONGC - 40%) and RELIANCE INDUSTRIES LTD. (RIL - 30%).
In so doing, the partnership is proposing to implement an enhanced recovery program that is expected to require an investment of about $800,000,000 over the next 3 to 4 years. Gas production presently amounts to some 185 standard cubic feet per day. However, the expenditure will be made in 2 phases that will reportedly include a $250,000,000...
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