ONGC To Invest In Redevelopment Projects
Oil and Natural Gas Corporation (ONGC) is in the process of investing Rs 22,500 crore in redevelopment projects, to add capacity of 16.7 million tonnes of oil and 56 billion cubic metres of gas. “(In 2014) we launched Mumbai High North Redevelopment Phase-III, Mumbai High South Redevelopment Phase-III, integrated development of the Bassein, Mukta and Panna formations and Daman development,” Chairman and Managing Director D K Sarraf said at a Republic Day function at ONGC’s headquarters. “These are very important projects for us and a lot of hope rides on their success. They will also serve as a litmus test for our project management skill to implement the projects without time and cost over-run and safely,” he said.