Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
In a strategic move to enhance the production ofnatural gas, theMinistry of Petroleum
and Natural Gas (MOP&NG) has notified a revisedpricing policy that will see natural gas from new
wells or well interventions in nominated fields ofONGC and Oil India Limited being priced at
a 20 per cent premium over the administered price mechanism (APM). This effectively sets the price at 12 per
cent of the Indian Crude basket price.
Under this new guideline, the Petroleum Planning and
Analysis Cell (PPAC)
has outlined that the APM Price was previously pegged at 10 per cent of the
Indian Crude basket price on a monthly basis. The implementation of this premium pricing is anticipated to render
gas developmentprojects in challenging areas viable, areas which are often
capital and technology-intensive.
ONGC has
responded to this policy update by approving two major projects totaling aninvestment of approximately ₹13,800 crore. The first, the Daman Upside
Development project in the Mumbai High field, involves a cost of about ₹7,800
crore and is already underway. It is expected to reach a peak production of
around 5 million standard cubic meters per day (MMSCMD).
Furthermore, the ONGC Board has sanctioned the Integrated
Development of 4 Contract areas under the Discovered Small Fields (DSF-II) at
an estimated project cost of ₹6,000 crore. This project also benefits from
pricing and marketing freedom under the DSF Policy and aims to hit a peak
production of approximately 4 MMSCMD.
The execution of this project has already been initiated.
