State-run Oil and Natural Gas Corporation would invest over INR 5,700 Crore to push up production of crude oil to 6.9 million tonnes and 5 billion cubic metres of gas by 2030, from its Bombay High (North) oil and gas field on the west coast. Th e investment would involve a foreign exchange component of over INR 4,421 crore, or US$ 743 million, at an exchange rate of INR 59.50 to a dollar. Th e project is designed to carry forward the success of the previous two editions of redevelopment projects of the fi elds that were dis-covered four decades ago. Th is is expected to extend the life of the field. Th e project cost includes INR 2,586.42 crore for the creation of surface facilities, INR 1,992.11 crore for setting up new oil and gas wells, and INR 1,127.94 crore for ‘side-tracking’ of existing wells.
The facilities envisaged under the project are installation of five well platforms, one clamp-on facility for wells at an existing platform, associated pipelines and modifications at 13 platforms, drilling of 52 new wells and 24 sidetrack wells.