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ONGC to invest up to Rs 40,000 crore in KG basin

26 Mar 2015 Evaluate

Oil and Natural Gas Corporation (ONGC) is planning to invest up to Rs 40,000 crore in the Krishna-Godavari (KG) basin, off the Andhra Pradesh coast. The company will make the said investment in a phased manner over the next four years.

Moreover, the state-run explorer is targeting to extract 25 million standard cubic meters a day of gas in the KG Basin by 2018 and will also look into exploration of oil by 2019. ONGC is also keen on being partners in the new Petroleum University coming up in the State.

Further, the company has outlined plans to invest in corporate social responsibility (CSR) initiatives in Krishna, East and West Godavari districts in partnership with the Andhra Pradesh State Skill Development Centre.

ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.

 

ONGC Share Price

285.45 -0.75 (-0.26%)
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Company Name CMP
ONGC 285.45
Oil India 474.00
Jindal Drilling&Inds 533.70
Deep Industries 507.30
Asian Energy Service 313.55
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