ONGC to invest $406 million in Arabian sea oil field

Mumbai: Oil and Natural Gas Corp has decided to invest an additional 24.8 billion rupees for development of its Vasai East oil and gas fields in the Arabian sea.

ONGC also stated 'The state-run company expects an incremental oil production of 1.83 million metric tonnes and gas production of 1.97 billion cubic meters by 2030 after the completion of the project by 2018.'