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Whooping Investment Plans by ONGC likely to Spur Domestic Oil & Gas Production

News

ONGC has plans to invest over USD 8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19. 

Source: ET

SNP Insight

The whooping investments plans for the development of Oil & Gas fields by ONGC will considerably ease the Domestic Oil & Gas Production in country. The estimated output of 32.5 bcm of gas by 2018-19 is well in line with additional 30,000 kms of pipeline plans in the country. This would in turn make pipeline network commercially viable there by boosting the investors's sentiments. Further with the production from Oil fields would considerably help in meeting the domestic demand in the country. 

Source: SNP Infra Research