ONGC to invest Rs 2480 crore in Arabian sea oil field

State-run Oil and Natural Gas Corp said on Monday it would invest an additional Rs 2480 crore for development of its Vasai East oil and gas fields in the Arabian sea.

The state-run company expects an incremental oil production of 1.83 million metric tonnes and gas production of 1.97 billion cubic meters by 2030 after the completion of the project by 2018, it said in a statement to the exchanges.

Copyright: Thomson Reuters 2014