ONGC plans to spend $ 33 bn on capital expenditure

Feb 01, 2012 12:00 AM

Oil and Natural Gas Corp plans to spend $ 33 bn on capital expenditure in five years starting April 2012, Chairman and Managing Director Sudhir Vasudeva said. Almost 97 % of the capex will be spent on exploration and production, Vasudeva told.
The company plans to produce 277 mm tons of oil and oil equivalent gas, nearly 40 mm tons more than the previous five years.

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