ONGC, OIL, BPCL To Invest USD 6 Billion In Next 4 Years In Mozambique

13 April, New Delhi

Petroleum minister Dharmendra Pradhan Monday said, state-run ONGC, OIL and BPCL will in the next four years invest USD 6 billion in developing a giant gas field off the Mozambique coast.

Pradhan, who returned from a two-day visit to the African nation last night, said the first LNG from the block is targeted for 2018-end or early 2019.

The project with capacity to produce 20 million tonnes of LNG annually would be the world’s largest LNG export site after Exxon Mobil-run Ras Laffan in Qatar.