Directorate General of Hydrocarbon nods for ONGC's KG Basin blocks

New Delhi, Sep 19 (UNI) State-run Oil and Natural Gas Corporation (ONGC) today said it has received approval from the Directorate General of Hydrocarbon for its two deepwater blocks in KG Basin, which are to be developed with an investment of over five billion dollars.

''The company's appraisal plan for development of KG-DWN-98/2 and KG-OS-DW4 has been cleared by the Directorate General of Hydrocarbon and it is at the final stage of approval by the Ministry,''ONGC Chief RS Sharma said at the company' 15th Annual General Meeting (AGM) here.

The production on these blocks is expected to begin by 2013, Mr Sharma said.

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