- State-owned Oil and Natural Gas Corp plans to invest over USD 8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19.
- ONGC has divided 12 oil and gas finds in the block KG-DWN-98/2 or KG-D5 and gas discovery in an adjacent G-4 block the Bay of Bengal into three clusters to quickly bring them to production.
- The 7,294.6 sq km deep sea KG-D5 block has been broadly categorized into Northern Discovery Area (NDA – 3,800.6 sq km) and Southern Discovery Area (SDA – 3,494 sq km).
- The investment will be for drilling 45 development wells, an array of sub-sea pipelines carrying gas to a fixed platform for processing and a pipeline to carry gas form it to an onshore terminal.
- Oil will be transported to a floating production system (FPSO) that will transfer it to ships for taking to refineries.