ONGC to Invest in Massive Oil and Gas Development Project in Andhra Pradesh

ONGC plans a significant investment of over Rs 4,600 crore to drill development wells, construct platforms, and establish processing facilities in Andhra Pradesh's Konaseema District. The project, subject to environmental clearance, aims to generate substantial employment opportunities while requiring evaluations of its ecological impact.

Oil and Natural Gas Corporation Limited (ONGC) is set to embark on a substantial investment of over Rs 4,600 crore in Andhra Pradesh's Konaseema District. The project involves drilling 10 development wells, constructing two unmanned platforms, laying an offshore pipeline, and establishing an onshore gas processing facility.

The venture requires fresh environmental clearance from the Ministry of Environment and Forests, as outlined by an Expert Appraisal Committee. The committee has requested ONGC to conduct a comprehensive biodiversity assessment and prepare an environmental restoration action plan with allocated funding.

Spanning an area of 845 square kilometers, the project is expected to create numerous job opportunities, with direct employment for 150 people and 310 indirect jobs. Previously considered in February, the proposal was deferred pending additional information, which the committee continues to seek.

(With inputs from agencies.)