State run, Oil and Natural Gas Corporation (ONGC) has inked pact with Mangalore Refinery and Petrochemicals (MRPL), by signing a crude oil sale agreement. This agreement includes supply of Mumbai High crude from JNPT and offshore platform. The company supplies about 11-12% of MRPL’s crude requirement.
ONGC, the country’s largest oil & gas producer, has drawn a roadmap to make substantial investment over a period of next five years both in exploration & developmental activities, and deepwater exploration and development constitutes a major component of the same. Under this plan, ONGC has a conservative estimate to produce about 6 to 9 MMSCMD of gas by mid-2017 from G-4, KG-DWN - D & E fields in the first phase.
