Business Services Industry
INDIA: Joint venture investment plans for proposed $805,000,000 gas production expansion project, BG GROUP PLC [UK], OIL & NATURAL GAS CORPORATION LTD. (ONGC) & RELIANCE INDUSTRIES LTD. (RIL) [India] - Order #: 077303.
WWP-Business Opportunities in Asia & the Pacific, July, 2003
PROJECT OVERVIEW:
UK-based BG PLC acquired a 30% stake in the Tapti and Panna Mukta gas fields in northwestern India during the year 2002. As things currently stand, it has been estimated that output from Tapti could be extensively expanded. As a result, the company has proposed investing $805,000,000 over the next 2 years in view of raising production output.
In so doing, about $145,000,000 is to be earmarked for the Panna-Mukta fields and around $660,000000 for the development of the Tapti gas field. The investment in the Panna-Mukta field is expected to result in an incremental oil production of 18.5 million barrels and 2.15 billion cubic meters of gas. For the Tapti field, incremental gas production is estimated to be around 10 to 12 million...
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