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ONGC To Invest $8.8 Bn In KG Oil And Gas Finds

Updated: August 24, 2015 6:45 am

State-owned Oil and Natural Gas Corp (ONGC) plans to invest over USD 8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19. The investment will be for drilling 45 development wells, an array of sub-sea pipelines carrying gas to a fixed platform for processing and a pipeline to carry gas form it to an onshore terminal. Oil will be transported to a floating production system (FPSO) that will transfer it to ships for taking to refineries.

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