Andhra Pradesh government and ONGC — a Maharatna PSU signed an agreement on January 27 to take forward all critical oil and gas exploration and production (E&P) activities to the state.
Andhra Pradesh with its large coastline has some of the most promising hydrocarbon bearing fields. ONGC has ongoing operational activities through its regional bases at Rajahmundry and Kakinada and engaged in widespread exploration and production activities.
ONGC is also rigorously pursuing to put the huge gas reserves it has discovered in KG basin, to production. It plans to invest about Rs 10,000 crores for E&P activities in Onland blocks and about Rs 68,000 crores in offshore assets in KG Basin.
The MoU was signed at Visakhapatnam, on the sidelines of Partnership Summit 2017 being held jointly by Andhra Pradesh government and CII. Read More…
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