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ONGC to Invest 88 Billion Rupees in Mumbai Oil Field, PTI Says

Oct. 17 (Bloomberg) -- Oil & Natural Gas Corp., India’s biggest energy explorer, plans to invest 88 billion rupees ($2 billion) to maintain production at its Mumbai High oil field, the Press Trust of India reported, citing a company official it didn’t name.

The field is producing 210,000 barrels a day, down from a peak of 400,000 barrels a day, the report said.

Link to Statement: {NSN LAFN4J3H0JK0 <GO>}

Link to Company News:{ONGC IN <Equity> CN <GO>}

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at

To contact the editor responsible for this story: Ravil Shirodkar at

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