ONGC Said to Develop New Gas Field by 2016, May Spend $4 Billion
This article is for subscribers only.
Oil & Natural Gas Corp., India’s biggest energy explorer, plans to produce natural gas from discoveries off the country’s west coast in four years in a move that may boost its output of the fuel by 13 percent.
The reservoir in the Arabian Sea is located about 50 kilometers (31 miles) from the federal territory of Daman and may hold more than 100 billion cubic meters of gas, or about half the size of India’s largest deposit, said three people with direct knowledge of the matter, asking not to be identified because the information isn’t public.