News Detail

Projects in India for investment in Oil & Gas sector as per MoPNG are:

1. OPaL Petrochemical Complex at Dahej, Gujarat:
   Oil & Natural Gas Corporation (ONGC), as a lead promoter, is currently implementing a grass root integrated petrochemical complex, located in the SEZ at Dahej, Gujarat on the west coast of India. The project is being implemented through a joint venture company promoted by ONGC along with GAIL and GSPC. 46.50% of the equity is already tied up with ONGC, GAIL, GSPC and the balance 53.30% is planned to be tied through Strategic Partners/ Financial Investors/ Public Issue (IPO). The project cost is around US$4.25 billion.
   As the project has already progressed substantially and a lot of risk mitigation has taken place, ONGC Petro additions Limited (OPaL) is looking forward to strategic investors for investments in this project
2. Petrochemical Complex at Mangalore, Karnataka:
   ONGC's subsidiary, Mangalore Refinery & Petrochemicals Limited (MRPL) has taken up expansion of refinery capacity from existing 9.69 MMTPA to 15 MMTPA. With this expansion, MRPL would have a huge aromatic Naphtha stream. To utilize this aromatic rich Naphtha stream, MRPL is setting up an aromatic plant to produce Para xylene (PX) within the Mangalore Special Economic Zone (SEZ), adjacent to the refinery which is also being positioned as the anchor industry for the proposed 'Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR)' at Mangalore. The as built cost of the project is INR 5750 crore (~US$ 1 billion). The project is being implemented by a Special Purpose Vehicle (SPY) named ONGC Mangalore Petrochemicals Limited (OMPL) with majority equity holding by ONGC and its group companies and the balance to be tied up from strategic investors/ Banks and Financial Institutions. The project has progressed substantially and lot of risk mitigation has taken place. OMPL is looking forward towards strategic investors willing invest into this project
3. IOCL/s LNG Project at Ennore, Tamil Nadu:
   Indian Oil is in the process of setting up 5 MMTPA LNG Import, Storage and Regasification Terminal along with all associated marine and gas send out facilities & utilities at an estimated capital cost of US$ 864 million, at Ennore (outskirts of Chennai). The project is expected to be commissioned in 2015-16.
   Indian Oil is looking for long/ medium term LNG sourcing tie-up of 2.5 to 5 MMTPA for the terminal. Indian Oil is also looking for potential strategic partners for participation in the project based on mutually beneficial business terms
4. Kochi Petrochemical Project of BPCL:
   BPCL has undertaken the expansion of its Kochi Refinery capacity from current 9.5 MMT per year to 15.5 MMT per year, having a Petchem FCC. It is expected that through this expansion, BPCL will have sufficient feedstock to set up a world scale Olefin Complex at Kochi. This complex will manufacture Polymer grade, Propylene and Ethylene, to be used as feedstock for speciality niche Petchem products. The products so produced at Kochi may also work as feedstock for a series of downstream industries. BPCL proposes to set up this Petrochemical Complex in a JV and is looking for established global Petrochem players as partners. An economically viable petrochemical complex would require an investment of around US$ 1.4 billion.