India’s state-controlled Oil & Natural Gas Corporation (ONGC) has launched the tender for crucial engineering studies on a promising deep-water development in the prolific Krishna Godavari basin off the country’s east coast.

The company plans to spend more than $10 billion on developing multiple deep-water projects in and around its flagship KG-DWN-98/2 block in the Krishna Godavari basin.

While ONGC is swiftly progressing with the $5 billion-plus development of the Cluster-2 region, it now aims to kick off an integrated development of the Cluster-1 region of KG-DWN-98/2, along with the nearby GS-29 asset.