India’s top oil and gas explorer, state-run Oil and Natural Gas Corporation (ONGC), approved on Thursday investments of US$1.1 billion (73.27 billion rupees) to develop five oil and gas projects that would raise the country’s oil and gas production.

More than half of the investment will go to the development of the R-12 (Ratna) field, expected to start producing oil by 2018/19. ONGC expects the field’s peak production rate of 14,583 bopd to be reached in 2019-20. As part of the development plan, 31 wells will be drilled and completed, the company said.

The other projects are the redevelopment of the Santhal oil field of Mehsana Asset in North Gujarat; the B-147 field, as a part of Bassein & Satellite Asset in Western Offshore; the BSE-11 Block in Bassein and Satellite Asset; and the 4th phase development of NBP field in Bassein and Satellite Asset.

Last September, ONGC said it would invest US$5.1 billion (340.12 billion rupees) over the next four years in the development of a deepwater oil and gas block off India’s east coast.

Source de l’information

Oilprice.com
Article: India’s ONGC Plans $1.1B Investment To Ramp Up Oil, Gas Output.

Sujet et source de l’image

Sujet de l’image: Plate-forme petroliere ONGC (Bombay High, South Field).
Source de l’image : Wikimedia Commons.

Lien externe utile

Site web d’ONGC – Oil and Natural Gaz Corporation Limited.

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Auteur : Franck Frémont

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