State-owned Oil and Natural Gas Corporation (ONGC) is planning to expand its natural gas production up to 2 million standard cubic meters per day (MMSCMD) during the next fiscal as two of its eastern offshore wells are ready for production.
Moreover, the company has chalked out a programme to take up drilling in 40 to 45 wells by 2019. Further, the eastern offshore wing of the PSU has also sent proposals to hire four more rigs to meet the requirements.
ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.
Moreover, the company has chalked out a programme to take up drilling in 40 to 45 wells by 2019. Further, the eastern offshore wing of the PSU has also sent proposals to hire four more rigs to meet the requirements.
ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.
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