ONGC to invest of Rs 7,327 cr for five projects

ONGC board approves an investment of Rs 4,104.63 cr to develop R-series fields including revival of R-12 (Ratna)

GN Bureau | February 25, 2017


#wrwe  

 

State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23.

The projects include development of R-Series fields, including revival of R-12 (Ratna), redevelopment of Santhal field, development of B-147 field, development of BSE-11 block and 4th phase development of NBP field.
The board approved an investment of Rs 4,104.63 crore to develop R-series fields including revival of R-12 (Ratna), an ONGC press release said.
 
R-12 (Ratna) field was discovered in 1979 and put on production in 1983 which remained operational till 1994. The government awarded the contract for development of Ratna and R-Series fields in 1996 to a private sector consortium in a competitive bidding round. However, the contract could not be inked owing to several reasons and in March 2016, the government reverted the Ratna and R-Series fields to ONGC for development and production.
 
Ratna-R series fields are located about 130 km South-West of Mumbai and around 41 km from Heera field in the Western offshore. Out of 37 structures in the field, eight were found to be oil bearing and only one R-12 (Ratna) field was under exploitation during 1982-1994. The remaining R-series structures are yet to be monetised.
 

Comments

 

Other News

Covid-19: Odisha’s Ganjam district witnesses spike

Every year, Babula Behera, a 45-year-old construction helper in Bhubaneswar, takes off from his work from July to October, and cultivates paddy on his half-acre land in his village in Chikiti block under Odisha’s Ganjam district. The harvest, he says, provides rice to his family of five for the entir

Rail travel to be Covid-safe now

In the time of the Covid-19 pandemic, travelling can be hazardous, but the railways have come up with new coaches designed to help the passenger avoid the risk of infection to the maximum extent. The Indian Railways’ production unit, Rail Coach Factory, Kapurthala, has developed a &lsq

Covid-19: How states compare on recovery rate

While India’s Covid-19 recovery rate has improved to 63.02%, there are 19 states that are doing better than that. They are led by the national capital, Delhi. Here is a list of these states, as on Monday evening: Ladakh (UT)    85.45% Delhi   

5.3 lakh recover from Covid-19; active cases at 2.9 lakh

Though India remains the third-most affected country in terms of Covid-19 infections, the situation seems to be improving as the number of people who have recovered from infection has rose to 5,34,620, with a recovery rate of 62.93 percent. “Focussed and coordinated steps taken in tand

Covid-19: Let`s introspect, learn right lessons, says VP

Vice president M Venkaiah Naidu has urged the people to introspect on the life during the last few months under coronavirus induced confinement and assess if they have learned the right lessons and equipped themselves to deal with such uncertainties. Seeking to engage with people on the cau

Four trends that will shape healthcare post-Covid

The Covid-19 pandemic has disrupted economies and healthcare systems across the world. Even in the countries, like the US, that have the highest spend on healthcare and public health emergency preparedness, the impact of coronavirus pandemic on health and livelihoods of people has been tremendous. There ar



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter