Oil & Natural Gas Corp. (ONGC) is planning to invest somewhere between $25 billion and $30 billion in the next ten years time. The investment will be done in the overseas assets which would include gas and oil blocks of the company. This was said by RS Sharma, the Chairman of ONGC.

In an interview given to private media house, Dow Jones Newswires, Sharma said that the company is planning big and for that it is going to invest big.

The state-run oil company is trying to obtain 20 million tons of oil, which boils down to 402,000 barrels per day, from its overseas assets.

The company is looking forward to do depend more on overseas assets since its overseas arm, ONGC Videsh Ltd., is facing falling production. From the current output of 8.78 million tons of oil and oil equivalents, it expects it do decrease to 8.15 million tons by the end of this year.

The worst fears, as per Sharma is that the output of the company will become flat in some time.

This is not only a thing of worry about the company, but for India since most of the domestic consumption is sufficed by ONGC.