ONGC gets board’s nod for 2nd phase of Mumbai High North project

Oil and Natural Gas Corporation (ONGC) has secured the board’s approval for initiating the second phase of the Mumbai High North (MHN) redevelopment project.

The proposed project worth Rs 7133.39 crore is expected to be completed by September 2012.

The decision was taken considering the success of the first phase of the project which was launched in October 2000 and was completed in December 2006.

The redevelopment project is expected to yield an incremental crude oil production of 17.354 million metric tonnes (mmt) and natural gas of 2.987 billion cubic metres (bcm), aggregating 20.34 million tonnes of oil equivalent, by March 2030.

The field which was discovered in 1974 commenced production in May 1976 and currently generates a little over 12 mmt a year (245,00 bopd).