BG Group (UK) has proposed investment of over USD 800 million over the next two years in development of the Indian Panna-Mukta and Tapti oil and gas fields to improve production from the offshore fields. “About USD 145 million is to be pumped into Panna-Mukta oil and gas field and around USD 659.5 million into the development of Tapti gas field,” sources said. The investment in Panna-Mukta field would result in an incremental oil production of 18.5 million barrels (2.46 million tonnes) and 2.15 billion cubic meters of gas. For the Tapti field, incremental gas production is estimated to be around 10-12 million standard cubic meters per day (mmscmd), they said.
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