As crude prices rise, so do profits for ONGC, India’s biggest company engaged in exploring oil. The company is making a fresh pitch to increase its oil production with regard to decline in oil output from existing fields.One way to do this will be redeveloping marginal oil fields. ONGC will increase production by unlocking small pools of hydrocarbon reserves and it is in this ONGC plans to invest Rs 14,000 crore.
