As per the deal, the Andhra Pradesh government will assist ONGC in taking over land and in obtaining other statutory clearance New Delhi: State-owned explorer Oil and Natural Gas Corp. Ltd (ONGC) said on Saturday it will invest Rs78,000 crore in the Krishna Godavari basin for producing hydrocarbons and has signed an agreement with the Andhra Pradesh government for smooth execution of the projects. ONGC has been pursuing exploration in the basin and had last March announced a $5 billion (Rs34,000 crore) investment over the next three years in two of its fields there after the central government earlier that month announced a liberal pricing formula for natural gas from deep sea blocks. The investment figure announced on Saturday is for the entire basin. The agreement with Andhra Pradesh to “take forward all critical exploration and production activities in the state” was signed on the sidelines of the Partnership Summit, 2017 jointly organized by the state government and ind
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