ONGC plans to invest in India’s Krishna Godavari Basin

Jan 02, 2012 12:00 AM

State-owned Oil and Natural Gas Corp (ONGC) plans to invest $ 2.894 bn in developing its ultra-deepsea UD-1 gas discovery in the Krishna Godavari basin by 2016-17.
ONGC believes that UD-1 gas discovery in the southern part of its Block KG-DWN-98/2 can produce for 14-15 years with peak of about 20 mm cmpd lasting for five years, official sources said.