Source Pravda.Ru

Indian ONGC Integrates Vertically

At present moment the company is oriented towards opening new oil and gas fields in India, but they do not plan to enter the processing branch in the immediate future. However ONGC can take part in activity of other firms (privatized in this year): Bharat Petroleum Corp Ltd., Hindustan Petroleum Corp Ltd. Investigation of deep water blocks will be prior of ONGC activity within the nearest five years. For these purposes ONGC is going to spend 120 billion rupees (2.46 billion dollars), received from oil trade from 15 large deposits.

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