KG basin has become viable after new policy announcement, feels ONGC chief DK Sarraf; decision on final investment soon
ONGC chairman said upon completion, 75,000 barrels a day of oil and 17 million standard cubic metres a day of gas would be pumped
Cabinet clears return of Ratna and R-Series fields after idea of inviting private parties to develop these went nowhere
ONGC had discovered the fields and created facilities in Ratna R-12, which is part of R&RS, at a cost of Rs 472.55 crore
Reliance industries had in 2001 and 2007 studied hydrocarbon reservoir below sea in ONGC's block without their knowledge
Venezuela's state oil company, a JV partner, says deal is likely to be signed soon
The project involves drilling 406 development wells in oil fields in the state's Cambay Basin
The state-run firm aims to produce 5.1 mmscmd gas from Tripura fields
Recommendation supports ONGC's demand as well; co had demanded it to make Rs 40,000 crore planned investment in KG Basin viable
The demand is being made so as to make ONGC's Rs 40,000 cr planned investments in the Krishna Godavari Basin viable