Mumbai: State-run Oil and Natural Gas Corp. (ONGC) plans to invest more than $500 million in its flagship asset, Mumbai High, to boost hydrocarbon production, two people aware of the development said. ONGC will employ enhanced oil recovery (EOR) methods to improve oil recovery from the offshore field and has completed a pilot programme.
“Mumbai High is ONGC’s vintage asset and the company is focused on maximizing recovery from the ageing field. Employing EOR methods is the only way to enhance production,” one of the two people cited above said, requesting anonymity.
ONGC did not respond to phone calls and text messages till publishing of this story.
