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Showing posts with the label ONGC

ONGC to invest Rs78,000 crore in KG basin, signs deal with Andhra Pradesh

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

ONGC Tripura to start exporting power from Palatana to Myanmar

ONGC Tripura Power Company today said it will start export of power from Palatana project to Myanmar from next month in order to light up the Tamu town, from where insurgent groups operating in the North-East are hiding. “This is going to be a very important power export and Indian government readily agreed for this. India wants to light up that area, where terrorists operating in North—East are present,” ONGC Tripura Power Company Managing Director Satyajit Ganguly told PTI on the sidelines of the PHDCCI infrastructure conclave here. The company will export power to Tamu town in Myanmar via Manipur from the 726 MW Palatana project in Tripura, he added. “The Tamu town, which is just 3 km from Moreh, currently does not have any grid connection and people there use diesel generator sets for power. “We will export 3 MW of power and this will be sufficient to light up the town. This will help the security agencies in tracking the terrorist movement,” Ganguly said. Asked by when