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The
Board of Oil and Natural Gas Corporation Ltd. (ONGC), in its
165th meeting held on 10th April 2007, has approved a number of
growth-oriented investment proposals including that of
augmentation of Gas production in Tripura to feed the Power
Plant at Palatana in south Tripura.
The ONGC Board approved the project to develop upstream
facilities to produce incremental Gas of 3 MMSCMD (to raise
production from the current level of 1.45 MMSCMD to 4.5 MMSCMD),
at an estimated cost of Rs. 1817 Crore. The project includes
fast-track exploration and development of Gas resources through
intensive drilling and setting up Surface infrastructure, for
supplying the gas to the 740 MW Power Plant of OTPC, in which
ONGC shall have holding of 50% equity.
In another significant move he Board also approved ONGC's equity
investment in OTPC. In the overall investment of Rs. 3844 Crore
towards the integrated Power Generation and Transmission project
with a Debt-Equity ratio of 70:30, ONGC's investment works out
to be Rs. 576 Crore. The Upstream and Downstream activities will
be progressively stepped up and the Power Plant is scheduled for
commissioning by 2010.
This
integrated project will enable ONGC to harness its Gas potential
in the North-Eastern state through 'Gas-to-Wire' concept,
catalyzing significant development in the North-Eastern region.
11
April, 2007
Courtesy:
Corporate
Communications, ONGC
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