ONGC turns to use undersea infrastructure of GSPC

-


Commodity tips
Commodity tips
  • Oil and Natural Gas Corporation (ONGC) plans to use undersea infrastructure of Gujarat State Petroleum Corporation (GSPC) to produce gas from its own KG-basin fields in the Bay of Bengal.
  • Last year ONGC agreed to buy 80% interest in the KG-OSN-2001/3 block, which sits next to the state-owned firm’s KG-DWN-98/2 or KG-D5 block.
  • “ONGC has finalised a $ 5.07 billion plan for developing the Cluster-II finds by 2019-20. First gas production is envisaged by June 2019 and oil will start flowing from March 2020,” a company official reported to a leading business daily.
  • ONGC, which made an investment of Rs. 34,012 crore in bringing to production 10 oil and gas discoveries in Cluster-II, plans to invest another Rs. 21,528.10 crore in developing the ultra deep sea UD-1 find (Cluster-III) by 2022-23.
  • The 7,294.6 sq km deep sea KG-D5 block has been broadly categorised into Southern Discovery Area (SDA-3,494 sq km) & Northern Discovery Area (NDA-3,800.6 sq km) .
  • NDA has 11 oil and gas discoveries while SDA has the nation’s only ultra-deep sea gas find of UD-1. These finds have been clubbed into three groups, Cluster-I, Cluster-II and Cluster-III.
  • From Cluster-II, a peak oil output of 77,305 barrels per day is envisaged within 2 years of start of production. Gas output is slated to peak at 16.56 million standard cubic metres per day by 2021 end.
  • Cluster-I field will be developed at an additional investment of Rs. 4,259.59 crore and will produce about 3 mmscmd of gas.
  • Cluster 2A mainly comprises oil finds of A2, P1, M3, M1 and G-2-2 in NDA which can produce 77,305 bpd (3.86 million tonnes per annum) and 3.81 mmscmd of gas.
  • Cluster 2B, which is made up of four gas finds R1, U3, U1, and A1 in NDA envisages a peak output of 12.75 mmscmd of gas.
If you want to more information regarding the Stock tips,commodity tips, nifty tips missed call @ 9069102223 or fill form http://24cfin.com/free-trial
Location: India

Comments

Post a Comment

Popular posts from this blog

Equity Report Outlook|24 carat financial services | 21 june 2017

-
Image
Equity tips:- Stocks in News:- equity tips NIFTY & SENSEX:- Nifty ends flat with a slight negative bias, Tata Power top Nifty gainer NSE Nifty closed at 9,653 down by 4 points, whereas BSE Sensex closed lower by 14 points at 31,297. BSE Mid-cap index closed higher by 0.19% at 14,845. BSE Small-cap index closed higher by 0.16% at 15,679. India VIX closed higher by 0.1% at 10.6 level. LOGISTIC STOCKS:- Logistics stocks on Tuesday’s trading session jumped as the Finance Minister Arun Jaitley during a press conference said that the GST switchover will happen from June 30 midnight and rollout on July 1. Snowman Logistics closed at Rs 59.80 per share, up by 10.6%, Patel Integrated closed at Rs 93.75 per share, up by 8.4%, Sical Logistics closed at Rs 254.60 per share, up by 4.8% and Gati closed at Rs 131.85 per share, up by 5.5%.   Market Buzz:- CDSL IPO subscribed by 6.62x times (updated at 4:11 PM). Retail portion subscribed at 9.45x times; HNI at 3.1...
Read more

Morning Update of Indian Share Market- 5 December 2018

-
Image
The Indian Stock Market opens on a negative on a Wednesday, before the result of RBI fifth bi-monthly policy review. The S&P BSE Sensex opened at 36,035.65, and also the nifty50 measuring device of the National Stock Exchange (NSE), opened at 10,820.45.  At 9:17Am, the Sensex was at 35,949.25, down 185.06 points or 0.51% and also the nifty50 was at 10,808.55, with a loss of 60.95 points or 0.56%.In the last session, Sensex had closed at 36,134.31 and the Nifty at 10,869.  The top gainers stocks are: IOC, ONGC, NTPC, Infratel, BPCL, HDFC Bank, Sunpharma and GAIL.  The Top losers stocks are – Hindalco, Tatamotors, Titan, ITC, Kotak Bank and Infy. Free Stock Tips
Read more

Place Of NRIs As Per The Taxation Norms

-
Image
An Indian citizen or a person of Indian origin, who is not a resident as defined above, is called an NRI (Non-Resident Indian) for the purpose of taxation. One can avail of share market tips at 24cfin to elaborately know about the taxation norms. NRIs have the option of being covered by the special provisions of chapter XII A of the Income Tax Act, for investment income earned on assets. Interest earned on NRE accounts, FCNR and RFC deposits are exempt from tax. Any investment income from specified assets is taxed at the rate of 20% and long-term capital gains at the rate of 10%. Specified assets include shares, debentures, government securities, deposits and other notified assets acquired out of foreign exchange. The NRI will not have the benefit of deduction under chapter VIA or benefit of cost indexation for capital gains, if they chose to use the concessions of this chapter. They do not have to file income tax return if the income covered under this head is the only income f...
Read more