Tripura: State-run Oil & Natural Gas Corporation (ONGC)plans to shed an investment of Rs4,051 crore to rebuild old offshore facilities in the Arabian Sea. The public owned firm also disclosed three significant oil and gas discoveries – two at the Krishna-Godavari basin and one in Tripura.
“The company will invest Rs2,913 crore to refurbish platforms in the Mumbai High, Neelam and Heera oil and gas fields. Of which Rs1,138 crore will be spent on re-construction of process complexes in Bassein & Satellite fields,” says the company in its official statement.
The project expected to be fully complete by 2016; the existing infrastructural facilities would be required to be in service beyond 2030 for western offshore fields, which is much more than the design life of these facilities.
EPC World News Bureau
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