ONGC turns to GSPC’s undersea infra for KG gas output

ONGC turns to GSPC’s undersea infra for KG gas output

Oil and Natural Gas Corporation (ONGC) plans to use undersea infrastructure of Gujarat firm GSPC to produce gas from its own KG-basin fields in the Bay of Bengal.

ONGC last year agreed to buy Gujarat State Petroleum Corporation’s (GSPC) 80 per cent interest in the KG-OSN-2001/3 block, which sits next to the state-owned firm’s KG-DWN-98/2 or KG-D5 block.

“We have divided discoveries in KG-D5 into three groups.

Cluster-1 finds can be tied up to GSPC block infrastructure,” a company official said.

ONGC has finalised a USD 5.07 billion plan for developing the Cluster-II finds by 2019-20. First gas production is envisaged by June 2019 and oil will start flowing from March 2020, he said. Read More…

 

Credit By : India

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