The board of directors of ONGC, on 25 March 2010, approved the investment of
Rs 3,241.03 crore for Phase I development of cluster seven marginal fields in
western offshore in the Arabian Sea.
The project is likely to be completed within 35 months, and the first oil is
expected in March 2012.
The board also approved a research and development pilot project for
exploration of shale gas in the Damodar basin at a cost of Rs 128 crore. ONGC
will be procuring nine new logging units at a cost of Rs 419.03 core as well.
Also See:
CNOOC
pips ONGC over oil fields in Uganda (25-Mar-10)
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