Last Updated :
03 November 2011 at 19:05 IST
ONGC natural gas output to jump 75% in 5 years
MUMBAI (Commodity Online): The Indian Oil Ministry has stated that they expect ONGC to increase its natural gas production by 75% within the next 5 years.
Oil ministry projections put ONGC's nat gas output at 91.09 million standard cubic metres per day (mmscmd) by 2016-17 from the current 52 mmscmd as soon as the corporation brings its Krishna-Godavari basin into production.
An earlier report had forcasted the Indian gas demand to grow to 473 mmscmd by 2016-17 from the current 189 mmscmd. The demand growth over the next 10 years will be at a compounded rate of 7.5% per annum.
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