Oil and Natural Gas Corporation (ONGC) has received its board’s approval for $560 million project for enhancing oil recovery at the prolific Rajasthan oilfields. Post ONGC approval, the proposal will now go to the block oversight panel, called the Management Committee headed by oil regulator DGH.
Cairn India, which owns 70 percent of the fields, had in June last year submitted a draft Enhanced Oil Recovery (EOR) plan for the Mangala oilfield, the largest among the 26 oil and gas find it has made in the Barmer district block.
ONGC, which holds the remaining 30 percent interest in the block, did extensive studies before approving of the EOR investment plan.
