Oil and Natural Gas Corp (ONGC) would invest Rs 19,338 crore in oil and gas exploration in the existing fiscal (2008-09), which is around 10% more than its investment of Rs 17,651 crore during the previous year.
Mr. R S Sharma, ONGC Chairman, said, “Improving the reserve replacement ratio by intensifying exploratory efforts is company's first priority.”
“Improving recovery factor, arresting decline in mature fields and expeditious development of discovered fields are the other priorities,” Mr. Sharma said.
Tata Consultancy Services (TCS) would deliver application, maintenance and development services for IT operations of Ericsson, the largest telecom product supplier of the world. TCS has signed a five year pact with Ericsson on Wednesday. .
Patel Engineering has received an order valued at Rs 6.96 billion from Andhra Pradesh State Government for up gradation of Krishna Delta System.
The scope of order includes massive modernization plan of the major river delta systems to enhance irrigation prospective along different canals, channels and their distributaries on EPC Turn Key Basis.
The project is likely to be finished in next 36 months.
Moreover, the company is close to purchasing a mid-sized coal mine in Indonesia for about Rs 1 billion.
The Mukesh Ambani-run Reliance Industries would start gas production from D6 block by the end of November. The company is also expected to start oil production from this segment of Krishna Godavari basin.
It was disclosed by the chief directorate general of Hydrocarbon Mr. V K Sibal. He said that the company would produce 15,000 barrels of oil per day. It would decrease India’s dependence on oil import.
The largest stainless steel producer of India, Jindal Stainless Ltd would invest Rs 10,000-11,000 crore in the next five years to expand its steel business. The company would increase its production capacity and establish new steel plants in the coming years. It also intends to provide value added services and steel products as per its expansion plans. The company would come in the form of a new corporate entity. It has changed its logo and name to JSL Ltd.
State-run Oil and Natural Gas Corporation (ONGC) has unveiled its plan to pump $5.3 billion in developing gas fields in two of its eastern offshore Krishna Godavari basin blocks by 2013.
exploration in the existing fiscal (2008-09), which is around 10% more than its investment of Rs 17,651 crore during the previous year. 
Pradesh State Government for up gradation of Krishna Delta System.
block by the end of November. The company is also expected to start oil production from this segment of Krishna Godavari basin. 
