ONGC approves three new offshore projects

News post authorEliza Bhalerao 01 December 2017

ONGC approves three new offshore projects

Oil and Natural Gas Co. Ltd. (ONGC) will invest Rs.7327 crore (more than $1 billion) to develop five projects, three of which are offshore. In total, they are anticipated to produce nearly 15 million metric tons of oil (16.5 tons) and 2.972 bcm of gas. The B-147 field, part of the Bassein field and satellite area is being developed at a total estimated capital cost of Rs. 546.15 crore (nearly $82 million). The field is located about 110 km (68 miles) from the Mumbai shore in water depths of around 70-77 m (230-253 ft). The B-147 development involves drilling three new wells, installing a new four-slot wellhead platform with associated pipelines and modification in two existing platforms.

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