ONGC: ONGC to start oil production from USD 5 bn deep-water

The Oil and Natural Gas Corporation (ONGC) is set to commence oil production from its Cluster-2 project in the Krishna Godavari basin in the Bay of Bengal. The floating production unit (FPSO), Armada Sterling-V, is already in the block, and ONGC plans to gradually ramp up production, starting with 3 to 4 wells initially.

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