ONGC charts Rs 30,000 cr capex for FY22 with 50% in turnkey projects

It is aiming at 22.56 million tonnes of crude oil and 24.89 billion cubic metres of gas production during the year

Oil and Natural Gas Corporation (ONGC) earmarked Rs 30,000 crore towards capital expenditure in financial year 2021-22, and aims at an out put of 22.56 million tonnes of crude oil and 24.89 billion cubic metres of gas during the year.

“ONGC estimates to spend Rs 15,500 crore in major lumpsum turnkey projects, Rs 13,600 crore on major services, Rs 2,250 crore on major material procurement in financial year 2021-2022,” a company statement said.

To aid domestic oil and gas industry, ONGC said it has provided a list of required goods and services over the coming five years. This commitment to