Companies

ONGC sees delay in production from east coast gas field

Reuters Mumbai | Updated on February 19, 2018 Published on February 19, 2018

In Picture: Pedestrians walk past the ONGC office at the Bandra Kurla Complex in Mumbai (fil photo)

Oil and Natural Gas Corp Ltd fears some delays in meeting production deadline for its huge oil and gas field in the east coast, the company said in its Stock Exchange filing.

However, the State-owned company is trying to adhere to the planned production schedule from June 2019. ONGC expects delay in production as the tendering process got deferred due to introduction of new policies in the oil and gas sector in India.

The company is making all-out efforts to ensure that the project development is expedited, as per the filing.

The estimated capital expenditure for the project is $5.08 billion.

Published on February 19, 2018
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