(Millenium Post)
ONGC plans to nearly double natural gas production in four years as it invests billions of dollars to produce from newer discoveries, the state-owned firm’s chairman Shashi Shanker said. India’s biggest oil and gas producer is investing Rs 92,000 crore in 35 major projects which include 14 to bring new finds to production and six to improve recovery from the ageing fields. “We have almost 70 per cent of oil production coming from mature fields. My primary challenge is to step up production,” said Shanker, who took over as the Chairman of Oil & Natural Gas Corp (ONGC) last month.
