By IANS
New Delhi : State-owned petroleum major Oil and Natural Gas Corp (ONGC) is investing $930 million (Rs.37 billion) to upgrade its facilities, including improved oil recovery in its Assam oilfields, Petroleum Minister Muril Deora said Thursday.
The minister was replying to a question in the Lok Sabha, the lower house of Indian parliament.
ONGC is implementing the modernisation programme under its Assam renewal project, which will cost Rs.22.3 billion.
The company is also implementing an improved oil recovery scheme in the Rudrasagar, Geleky and Lakwa oilfields in Assam at an investment of Rs.14.8 billion to improve production, Deora said.
ONGC’s board of directors approved this investment proposal in its meeting held Oct 3, DEora added.
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