ONGC to invest $570 million in Mumbai High

April 16, 2004
India's state-owned Oil & Natural Gas Corp. plans to invest 24.84 billion rupees in its Mumbai High oil field off Mumbai during the financial year begun Apr. 1.

Shirish Nadkarni
OGJ Correspondent

MUMBAI, Apr. 16 -- India's state-owned Oil & Natural Gas Corp. plans to invest 24.84 billion rupees ($570 million) in its Mumbai High oil field off Mumbai during the financial year begun Apr. 1.

Half will support an ongoing production enhancement program that has yielded an additional 50,000 tonnes of oil and oil-equivalent gas since 2001 and is expected to recover another 75,000 tonnes by 2030.

The balance of the investment will fund new projects, including five of nine well platforms planned for Mumbai High (South) and 261 km of oil trunkline and 246 km of gas pipeline from Mumbai High to Uran onshore.