ONGC Approves Rs 5,050 Cr Investment In Tripura

The Public sector oil major ONGC has approved an investment of Rs 5,050 crore in Tripura for drilling of wells and creation of surface facilities to produce 5.1 mmscmd gas from the states fields. The Ministry of Petroleum & Natural Gas has announced to develop northeast region as a dominant hydrocarbon hub as part of its Hydrocarbon Vision 2030.

Due to this geological mapping and exploratory efforts, so far 11 gas fields have been discovered by ONGC in Tripura. Currently, the ONGC Tripura is carrying out its drilling activities with three owned rigs under operation and well servicing operations through 2 work-over rigs. An additional four to five hired rigs are anticipated to be under operation this year, which will intensify the exploration activities.

In line with this Hydrocarbon Vision, ONGC management has put their first foot forward and approved additional investment of Rs 3,104 crore for drilling of wells and creation of surface facilities to produce 5.1 mmscmd gas from Tripura fields. The board meeting held at New Delhi on February 11, had taken this decision.
It noted that the Tripura gas fields lie in logistically, environmentally challenged area, where a good number of drill site, facility and pipeline locations are likely to be in forest lands, which needs special attention for forest clearance and timely civil and site construction. Earlier in 2008, ONGC board had approved for investment of Rs 1946 crore for the same and total approved investment in Tripura will be Rs 5,050 crore.

Extra Info : 
Minister of Petroleum & Natural Gas : Dharmendra Pradhan 
CEO of ONGC : Dinesh K Sarraf
Headquarter : Uttarakhand
Founded : August 14, 1956

So lets discuss some questions related to this article which can be asked in the upcoming exams :
1. Expand the term ONGC.
2. ONGC has approved rs. 5,050 cr. investment for which state ?
3. ONGC is related to which industry ?
4. Name the person who is the Minister of Petroleum & Natural Gas ?

Courtesy : Business Standard 

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.


Leave a comment

Your email address will not be published. Required fields are marked *