600m USD deep drill by ONGC
Published on January 12, 2009 at 19:25
NEW DELHI : Oil and Natural Gas Corporation (ONGC) is set to invest over $600 million for the development of assets of Imperial Energy, in addition to its acquisition price of $2.1 billion, said a company official Monday.
ONGC acquired Imperial Energy after more than 97 percent of its shareholders had approved the deal last December.
An official at the state-run oil upstream major said ONGC will invest $600 million to develop Imperial's strategic assets in the western Siberian region of Russia, which is one of the highest oil-producing regions in the world.
ONGC wants to make Imperial's asset a platform for further expansion in the region.
IANS
The natural response of villagers in times of drought and floods is to leave their crops and cattle to flee to cities. But ICRISAT in association with a woman's self help group in Andhra Pradesh demonstrates how information technology and involvement of farmers can help predict such natural calamities and deal with them 
