Oil and Natural Gas Corporation has approved the second phase of Mumbai High North (MHN) redevelopment project which will yield an additional oil and gas of 20.34 million metric tonnes. The project scheduled to be complete by September 2012, bears a total cost of Rs 7133.39 crore.
The decision to launch Phase II of Mumbai High North Redevelopment comes after the success of the first phase, which was launched in October 2000 (and completed in December 2006) and is likely to result in incremental gain of 23.25 mmt of crude oil and 6.10 bcm of gas by 2030, from 73 new wells and 10 side-track wells drilled in first phase.
