Board of Oil & Natural Gas Corporation approves investment of over Rs 10K crore

In two major projects in Western Offshore to substantially enhance production

Oil & Natural Gas Corporation announced that the Board of Directors of the Company on 14 November 2014 has approved two major investment decisions valued at Rs 10,600 crore for further enhancing production from its Western Offshore fields. The projects are- Redevelopment (Phase III) of its gaint offshore field - Mumbai High (South) involving capital investment of Rs 6069 crore and integrated development of Mukta, Bassien and Panna Formations at an estimated capex of Rs 4,620 crore.

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