ONGC investing Rs 83,000 cr in 25 projects: CMD
New Delhi, Aug 15 (IANS) Diversified energy major ONGC is investing around Rs 83,000 crore in 25 major projects. "15 of these projects are under execution and will directly contribute to oil and gas production," said ONGC Chairman and Managing Director (CMD) Shashi Shanker on Thursday.
Addressing ONGC employees on the 73rd Independence Day, Shanker said, "The cumulative oil & gas gain from these projects is expected to be over 180 million tonnes of oil equivalent (Mtoe) in their life-cycle."
ONGC was looking at an encouraging production outlook for natural gas, Shanker said.
The national explorer is envisaging a gas output of over 32 billion cubic meters (BCM) by 2024.
Shanker's address was web cast from the company's headquarters in Dehradun to over 30,000 employees across ONGC's 38 work locations.