Date:01/08/2008 URL: http://www.thehindu.com/2008/08/01/stories/2008080155941700.htm

Business - Briefly

ONGC to invest $3 b in KG basin exploration

NEW DELHI: The Oil and Natural Gas Corporation will invest $3 billion in setting up facilities to bring oil and natural gas from fields at the Krishna Godavari basin in the Bay of Bengal. It will set up an integrated offshore supply base and an onshore terminal for the receipt of oil and gas from the KG fields, a company press statement said here.