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    ONGC to Speed Up Development of KG Basin Gas Discoveries

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Summary

India’s state owned oil and gas giant Oil and Natural Gas Corp (ONGC) will speed up development of its gas discoveries in KG basin.

by: shardul

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Asia/Oceania

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ONGC to Speed Up Development of KG Basin Gas Discoveries

India’s state owned oil and gas giant Oil and Natural Gas Corp (ONGC) will speed up development of its gas discoveries in KG basin, off the eastern Indian coast.

According to news agency Press Trust of India, ONGC hopes first gas from the KG basin block will flow latest by April 1, 2014.

Company’s back is divided into Northern Discovery Area (NDA) and Southern Discovery Area (SDA). Plan is to invest close to $9 billion in NDA, says Press Trust.

ONGC is looking at producing 9-10 million standard cubic metres per day of gas from the Northern Development Area of KG-D5 block.

NDA holds an estimated 97.568 billion cubic metres of inplace gas reserves spread over seven fields, Press Trust says.

 

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