|Oil and Natural Gas Corp (ONGC) is investing nearly Rs 25,000 crore in bringing to production nearly a dozen marginal oil and gas fields by 2014.|
The 14 projects entailed an investment of Rs 27,305.05 crore. Of these three, Rs 506.22 crore development of D-1 field, Rs 219.77 crore SB-11 development and Rs 1,688.38 crore investment in development of Vasai East in western offshore, have been completed.
Another 11 projects entailing an investment of Rs 24,890.38 crore are under various stages of investment.
The biggest among the projects is B-193 Cluster development at the cost of Rs 5,633.44 crore which would yield 5.57 million tonnes of oil and 5.12 billion cubic metres of gas in 15 years. The project is scheduled to be completed by June, 2012.
Besides, another Rs 3,241.03 crore is being spent on Cluster-7 development by March 2013 to produced 9.73 million tonnes of oil and 4.52 billion cubic metres of gas over a period of 16 years.
ONGC is also investing Rs 3,195.16 crore in producing 6.13 million cubic metres of condensate and 15.14 bcm of gas from C-Series field by 2022-23. Another, 2,218.01 crore is being investment in integrated development of G-1 and GS-15 fields in for producing 0.982 million tons of oil and 5.92 bcm of gas over 15 years period beginning May, 2012.
It is also investing Rs 2,920.82 crore in producing 2.46 million tonnes of oil and 6.56 bcm of gas from B-22 Cluster, Rs 2,523 crore in WO-15 Cluster development for 2.83 million tonnes of oil and 8.58 bcm of gas and 2,163.65 crore in additional development of D-1 field.
ONGC would also invest Rs 1,456.96 crore in B-46 Cluster development to product 1.68 million cubic metres of condensate and 5.273 bcm of gas in 12 years beginning May 2012.