India’s state-owned ONGC announced Thursday that it will invest $863.2 million into the Daman Development project to increase production of natural gas and condensate at the Arabian Sea Tapti Daman Block.
The offshore project is located around 60 miles from Daman coast.
According to ONGC, the Daman development is expected to commence production by July 2016.
Production will peak at 294.84 mfc per day of gas and 9,286 bpd of condensate.
ONGC plans to drill 28 wells for the Daman project.
“This approval (to invest in the Daman development) flags the oil major’s aggressive investment posture to ramp up production from the Western Offshore,” ONGC said in a press release.