Industry sources suggested that the draft FDP has been submitted to the Directorate General of Hydrocarbons (DGH) for Cluster-2 of the deep-water block and is likely to involve investments of $6 billion to $7 billion.
ONGC's flagship deep-water block, KG-DWN-98/2, has been divided into three clusters and the company is targeting the second cluster for development first.
Oil and gas production from Cluster-2 is expected to start in another two to three years.
