You are here: Home » Markets » Commodities » Energy
Business Standard

ONGC to invest $5.1 bn for developing oil finds off AP coast

It will produce 10 oil, gas discoveries in Bay of Bengal block, which is next to Reliance Industries

Press Trust of India  |  Visakhapatnam 

State-owned Oil and Natural Gas Corp (ONGC) on Friday signed an MoU with Andhra Pradesh government for investing $5.07 billion in developing oil and gas finds off the state's coast by 2019-20. ONGC will invest $5.07 billion in bringing to production 10 oil and gas discoveries in the Bay of Bengal block KG-DWN-98/2 (KG-D5), which sits next to Reliance Industries' flagging KG-D6 fields. First gas production is envisaged by June 2019 and oil would start flowing from March 2020. Gas from the offshore field will be brought via sub-sea pipeline to Andhra Pradesh before ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
RECOMMENDED FOR YOU

ONGC to invest $5.1 bn for developing oil finds off AP coast

It will produce 10 oil, gas discoveries in Bay of Bengal block, which is next to Reliance Industries

It will produce 10 oil, gas discoveries in Bay of Bengal block, which is next to Reliance Industries State-owned Oil and Natural Gas Corp (ONGC) on Friday signed an MoU with Andhra Pradesh government for investing $5.07 billion in developing oil and gas finds off the state's coast by 2019-20. ONGC will invest $5.07 billion in bringing to production 10 oil and gas discoveries in the Bay of Bengal block KG-DWN-98/2 (KG-D5), which sits next to Reliance Industries' flagging KG-D6 fields. First gas production is envisaged by June 2019 and oil would start flowing from March 2020. Gas from the offshore field will be brought via sub-sea pipeline to Andhra Pradesh before ... image
Business Standard
177 22

ONGC to invest $5.1 bn for developing oil finds off AP coast

It will produce 10 oil, gas discoveries in Bay of Bengal block, which is next to Reliance Industries

State-owned Oil and Natural Gas Corp (ONGC) on Friday signed an MoU with Andhra Pradesh government for investing $5.07 billion in developing oil and gas finds off the state's coast by 2019-20. ONGC will invest $5.07 billion in bringing to production 10 oil and gas discoveries in the Bay of Bengal block KG-DWN-98/2 (KG-D5), which sits next to Reliance Industries' flagging KG-D6 fields. First gas production is envisaged by June 2019 and oil would start flowing from March 2020. Gas from the offshore field will be brought via sub-sea pipeline to Andhra Pradesh before ...

image
Business Standard
177 22