ONGC to invest USD 2 billion in Mumbai offshore to raise oil, gas output
“We estimate that this development drilling will enhance production by over 100 million tonnes of oil and oil equivalent gas over the life of the field,” he said. “The investment involved in drilling and facilities will be over USD 2 billion.” ONGC produces two-third of all oil and gas produced in the country and any incremental production would help the country cut its dependence on imports for meeting energy needs.
