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ONGC plans up to Rs 65,000 cr investment for exploring KG-basin

ONGC has divided the deepwater block KG-DWN-98/2 into Clusters I, II and II

Shine Jacob  |  New Delhi 

State-run Oil and Natural Gas Corporation (ONGC) plans to invest up to Rs 65,000 crore ($10 billion) in its three allotted block in the Krishna-Godavari basin. The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. "For the three clusters, we plan an overall investment of $9-10 billion. Cluster III will be the deepest in India, extending to about 2,600 metres," Tapas Kumar Sengupta, director (offshore) of ONGC, said. The company has invited a formal expression of interest (EoI) from international consultants and service providers for ...

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First Published: Wed, April 05 2017. 02:34 IST
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