INDIA: Development plans for proposed $2,700,000,000 oil and gas exploration and production projects, OIL & NATURAL GAS CORPORATION LTD. (ONGC) [India] - Order #: 047304.

WWP-Business Opportunities in Asia & the Pacific, April, 2004

PROJECT OVERVIEW:

The local OIL & NATURAL GAS CORPORATION LTD. (ONGC) currently produces about 26 million tons of oil per year (t/y) from its own fields. And, the company expects to get another 1.25 million t/y of crude from its share in joint venture deposits. In addition according to Subir Raha, ONGC Chairman & Managing Director, his company is now targeting an extra production output of 10 million t/y by 2007.

In so doing, ONGC is planning to invest $2,700,000,000 in further exploration and production projects. These will include a commitment of: - $1,815,000,000 in reviving production from the ageing Mumbai

High fields which will include drilling 43 new wells; - $ 885,000,000 in the redevelopment of its domestic fields.

...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.