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ONGC BOARD APPROVES RS 5219 CRORE INVESTMENT IN DAMAN GAS FIELDS

ogNEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) today said it will invest Rs 5,219 crore in bringing to production Daman gas fields in the Arabian sea by July 2016.

 

The board of ONGC at its meeting today approved “investing Rs 5,219 crore towards Daman Development project to enhance production of natural gas and condensate in its Tapti Daman Block in Arabian Sea,” the company said in a statement.

 

The project is located about 90-100 kilometer from Daman coast and includes additional development of C-24 field and monetization of B-12 marginal fields (B-12-11, B-12-13 and B-12-15).

 

Production is expected by July 2016 with peak output of 8.35 million standard cubic meters per day of g