MoneyWorks4Me

ONGC to go ahead with Rs 8,000 crore surface facility revamping programme: Report

02 Nov 2012 Evaluate

Oil and natural gas major, ONGC has reportedly finalized Rs 8,000 crore surface facility revamping programme for its three onshore assets, namely Ankleshwar, Ahmedabad and Mehsan in Gujarat.

The revamping programme aims at replacing old pipelines and other surface infrastructure in the next three years. Some of these pipelines that are three to four decades old and leakages which are common are mainly leading to operations as well as environmental concerns.

Further, ONGC would also be investing in capacity expansion of its effluent treatment plants of offshore assets.

Peers
Company Name CMP
ONGC 235.50
Oil India 485.05
Jindal Drilling&Inds 598.10
Deep Industries 729.95
Aban Offshore 14.21
View more..