India's state-owned Oil and Natural Gas Corporation (ONGC) is increasing its investment by over $7bn to reverse years of decline in oil and gas production. The company has up to 24 ongoing project developments, including enhanced and improved oil recovery, in a bid to reverse the declining trend. ONGC is investing over $5bn to develop the Cluster-II region of its flagship KG-DWN-98/2 asset in the Krishna Godavari basin offshore India's eastern coast. In the west coast region, the company has multiple field developments, and it is planning to redevelop Mumbai High in a fifth phase.
