Oil & Natural Gas Corporation Ltd.

State-run explorer Oil and Natural Gas Corporation (ONGC) in the financial year starting April 2012 expects to spend around Rs 31,000 crore as capital expenditure. The expenditure will be funded through internal accruals.

Recently, ONGC was spending nearly Rs 25,000 crore for 11 projects. It had taken up the development of marginal fields through 14 projects, out of which three projects have been completed.

The company entailed an investment of Rs 27,305.05 crore in the 14 projects. Of these three, Rs 506.22 crore developments of D-1 field, Rs 219.77 crore SB-11 development and Rs 1,688.38 crore investment in development of Vasai East in western offshore, have been completed. However, another 11 projects entailing an investment of Rs 24,890.38 crore were under various stages of investment.