India $6 bn in Mozambique |
India`s state-run ONGC, Oil India Ltd. (OIL) and BPCL will in the next four years invest $6 billion in developing a giant gas field off the Mozambique coast in Africa, and convert the fuel into LNG for export to India and other countries. India`s Oil Minister Dharmendra Pradhan says the public sector companies have already invested more than $6 billion so far to develop Rovuma Area-1 field. An estimated $18.4 billion will be required to bring first set of discoveries from the field to production and convert that gas into liquid natural gas or LNG for shipping to consuming nations.
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