ONGC to invest Rs 5,219 crore for Daman development project

In a bid to enhance natural gas and condensate production from the Tapti Daman block in the Western offshore, ONGC will invest Rs 5,219 crore in the Daman development project. The company has already received its board’s approval for the same.

The peak production rate is expected to hit 8.35 mmscmd and 9,286 barrels of condensate a day by July 2016. The cumulative production till 2034-35 is pegged at 27.67 billion cubic meters of gas and 5.01 million cubic meters of condensate. The gas and condensate will be evacuated to Hazira through Tapti Process facilities of the Tapti-JV.

ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.