Oil and Natural Gas Corporation (ONGC) is set to invest over Rs 4,600 crore in Andhra Pradesh's Konaseema district to boost its operations in the Krishna-Godavari (KG) Basin. 

The project includes drilling 10 development wells, establishing two unmanned platforms, laying an offshore pipeline, and creating an onshore gas processing facility. 

The company has applied for fresh environmental clearance for the project, which is expected to create 150 direct and 310 indirect jobs.

According to minutes from a July 24 meeting of the Expert Appraisal Committee (EAC) under the Ministry of Environment and Forests, ONGC has submitted a request for fresh environmental clearance for the project.

The development is linked to the DSF-III (Discovered Small Field-III) contract areas, for which Letters of Award were issued by the Director General of Hydrocarbons in September 2022. 

The project covers two key offshore blocks: KG/OSDSF/CHANDRIKA/2021 (Chandrika), spanning 697 square kilometers, and KG/OSDSF/GS49/2021 (GS49), covering 148 square kilometers on the East Coast. 

This substantial investment highlights ONGC’s commitment to expanding its exploration and production activities in the region.