State-owned Oil and Natural Gas Corp (ONGC) is reportedly planning to set aside an investment of over Rs 35,049 crore next fiscal in exploration and production of oil and gas, 4 per cent surge over capital capex in 2012-13, which was at Rs 33,577 crore.
Country’s largest explorer had originally proposed to invest Rs 33,065.31 crore in 2012-13 which during the course of the year revised it to Rs 33,577 crore. Further, all the expenditure proposed next fiscal will be funded by the company’s internal resource.
Meanwhile, a sum of Rs 11,276.76 crore has been earmarked as capex for next fiscal this includes Rs 9,434 crore on its core refining and marketing business and Rs 689 crore in oil and gas exploration and the remaining Rs 1,153.76 crore on petrochemicals business.
