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ONGC to invest $5.07 bn to develop KG basin oil and gas block Read more at: http://www.moneycontrol

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stander
in Oil, Gas and Energy News

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State-owned Oil and Natural Gas Corp (ONGC) Monday said it will invest USD 5.07 billion in bringing to production its KG Basin oil and gas discoveries by 2019-2020. "Our Board of Directors today approved the Field Development Plan (FDP) for the development of fields falling under Cluster 2 of the deep-water NELP Block KG-DWN-98/2 (KG-D5)," ONGC Chairman and Managing Director Dinesh K Sarraf said. Gas output is expected to start by June 2019 and oil will start flowing from March 2020.

Read more at: http://www.moneycontrol.com/news/business/ongc-to-invest-36507-bn-to-develop-kg-basin-oilgas-block_6033181.html?utm_source=ref_article

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