ONGC FILES CLAIM FOR RP3BN
India’s Oil & Natural Gas Corp (ONGC) has filed a claim for Rp3bn for damage caused by floods at the Hazira gas complex in Gujarat, reports Financial Express
. Managing director S Sharma said that the claim, which is provisional, includes operational losses and physical damage, but not loss of business, estimated at an additional Rp2bn. The deductible was understood to be Rp92m. Gazira gas plant was hit by the floods on August 7, effectively shutting down two-thirds of India’s natural gas output. Supplies are now expected to be fully back on stream by the second week of September. It is currently operating at about 45% capacity. The major insurer for ONGC is reported to be state-owned Oriental Insurance Co.
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