India's ONGC Plans $406M Investment In Arabian Sea Fields

Law360, New York (March 24, 2014, 6:36 PM EDT) -- India’s state-run Oil & Natural Gas Corp. plans to pour another 24.8 billion rupees ($406 million) into the development of its Vasai East oil and gas fields in the Arabian Sea, the company said in a Bombay Stock Exchange filing Monday.

The project is expected to increase the amount of oil and gas recovered from the field, with production of oil expected to reach 1.83 million metric tons and production of gas expected to reach 1.971 billion cubic meters by 2030, according to the filing....
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