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NEW DELHI, Feb 1 Asia Pulse - Oil and Natural Gas Corporation (BSE:500312), the country's largest firm by market value, on Tuesday said its Board has approved investment proposals of Rs 61.52 billion (US$1.4 billion) for four major projects in the western offshore region.
The projects include construction of a new process complex in Mumbai High North (MHN) oilfield, development of B-22 marginal fields cluster in South Bassein gas field, a new Uran-Trombay gas pipeline and laying high voltage submarine electric cables to connect various platforms of Mumbai High.
Construction of a new complex in Mumbai High oilfield was necessitated after a fire destroyed the platform in July 2005. The project would cost Rs 28.53 billion. The new process complex at MHN envisages facilities for handling around 255,000 barrels per day (BPD) of liquid ...