ONGC plans to invest up to $10 billion

The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. “For the three clusters,Cluster III will be the deepest in India, extending to about 2,600 metres,” Tapas Kumar Sengupta, director (offshore) of ONGC, said.The company has invited a formal expression of interest (EoI) from international consultants and service providers for developing Cluster-III. “We have already submitted a declaration of commerciality with the Directorate General of Hydrocarbons (DGH) for Cluster III development. Currently, there are only 10 (petroleum) fields in the world at such depth,” he added

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