INDIA APPROVES NEELAM DEVELOPMENT PROJECT

India's government has approved Oil & Natural Gas Commission's proposed $1.335 billion full development plan for Neelam offshore field. Neelam, the biggest oil field off India's western coast after Bombay High, is expected to produce as much as 120,000 b/d of oil. Meanwhile, ONGC has submitted a proposal to develop the PY-3 oil and gas discovery off Tamil Nadu, 55 km northeast of Nagapattinam. The PY-3-2 discovery well yielded about 4,000 b/d of oil and 3.5 MMcfd of gas. ONGC

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