ONGC to Invest in Biggest Oilfield to Stem Decline
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Oil & Natural Gas Corp., India’s biggest energy explorer, plans to increase spending on redeveloping its largest oilfield to stem more than two decades of declining output.
“We reached a peak at Mumbai High in 1989,” Sudhir Vasudeva, ONGC’s director for offshore services, said in an interview at his office in New Delhi yesterday. “We won’t reach that level again, but we’re trying to get as much as we can.”