News Brief | February 2012
ONGC to invest in KG gas find
Oil and Natural Gas Corporation (ONGC) plans to invest about Rs 15,340 crore in developing its ultra-deep sea gas discovery in the Krishna Godavari (KG) basin by 2016-17.
The company believes that the gas discovery in the southern part of its Block KG-DWN-98/2 can produce for 14-15 years with peak of about 20 million cubic metres per day (mmscmd) lasting for five years.
In a related development, ahead of a meeting of an empowered group of ministers later this month, private power producers are pushing for priority in natural gas supply.
They want 18 million standard cubic metres a day of gas, which is being supplied from nominated fields for non-core sectors, to be shifted to priority sectors. They also want enough gas supply to enable all power plants to be able to work at 60 per cent plant load factor.
Tel: + 91 11 2373 0368