#1
15th September 2016, 09:27 AM
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ONGC Arctic
Hi I want to know that is there any project of the ONGC going on in the Arctic if yes then please tell me the details for it??
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#2
15th September 2016, 10:10 AM
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Re: ONGC Arctic
Well the Rosneft and ONGC have signed the joint projects in the Arctic waters. Russia estimates its offshore oil resources at 100 billion tonnes, which would be enough to satisfy global demand for 25 years at current levels of consumption. The Indian company has a 15-percent share in Vankorneft. Rosneft and ONGC majors signed a memorandum of understanding in March, which opens a way for ONGC to purchase an additional 11-percent stake in Rosneft’s Vankorneft subsidiary. Rosneft and Exxon have announced plans to build a $15-billion LNG plant to process Sakhalin-1 gas, It is to be launched in 2018 with an initial capacity of five million tonnes a year. Rosneft already has agreements with ExxonMobil, Eni and Statoil to explore for Arctic deposits. These projects are unlikely to produce any oil or gas before the 2020s. ONGC Functions MoU with MoPNG 2015-16 HSE Business Development Business Partners Material Management Human Resource Right to Information (RTI) Vigilance Institute of Drilling Technology |