News Detail

<p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Oil and Natural Gas Corporation&nbsp; has struck a gas and oil reserve in the KG DWN 98/2 block it bought from Cairn India and has submitted a Declaration of Commerciality to the government to explore the same. &ldquo;We submitted the declaration on December 27 to the Directorate of Hydrocarbons and will provide additional information as required,&rdquo; MK Verma, Director &ndash; Exploration, ONGC, told CNBC-TV18. </span></span></span></p> <p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Production should take off in FY2016-17 if all formalities go through, Verma said, adding that he hopes the new field would produce about 2 mmscmd of natural gas and 1-1.5 mmt of crude oil.&nbsp;</span></span></span></p> <p style="text-align:justify"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Source-On Request</span></span></span></p>