ONGC to invest Rs 8,554 crore

Oil and Natural Gas Corp (ONGC) will invest Rs 8,554 crore in producing crude oil from two cluster of marginal fields in the western offshore by 2012.

The board of Oil and Natural Gas Corp  on Friday approved developing B-22 cluster and B-193 cluster at an estimated cost of Rs 8,554.26 crore with foreign exchange component of $1.697 billion, a company release here said.

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