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ONGC to invest Rs.24.65 bn in Assam
Posted on: 16-03-2009 , 04:: | DY365 Bureau

The board of the upstream major approved the investment for the first phase of renewal of the Lakwa and Lakhmani surface facilities in the northeastern state, a company statement said.

The project will allow the company to continue its operations in the field for another 25 years.

Other ONGC assets in Assam will also be revamped in a phased manner.

Besides, the ONGC board also approved $206 million for two different development projects in the western offshore field of Panna and Mukta.

ONGC has set up a joint venture with Reliance Industries Ltd and British Gas India to develop the Panna-Mukta fields.

The board was also notified of five new discoveries, including a significant find in Tripura.

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