ONGC to invest $5.1 billion in 4 yrs in east coast oil gas asset

NEW DELHI (Reuters) - Oil and Natural Gas Corporation will invest 340.12 billion rupees ($5.11 billion) in four years to develop cluster 2 of east coast deepwater block, the company said in a tweet on Friday.

These fields are expected to reach a net peak production of 77,000 barrels per day (bpd) of crude oil and 16.29 million metric standard cubic metres per day (mmscmd) of gas by 2021/22 fiscal year, the company had said earlier.

($1 = 66.6000 rupees)

(Reporting by Nidhi Verma; Editing by Malini Menon)