ONGC to spend Rs 2,393 crore in drilling 145 wells in Cambay basin in Gujarat
The company has notified 11 new oil and gas discoveries in the current fiscal so far.
India’s state-owned petroleum explorer Oil and Natural Gas Corporation (ONGC) is planning to spend Rs 2,393 crore in drilling 145 development wells across 30 mining leases in Cambay Basin in Gujarat.
The drilling of the development wells will take place in 13 fields – including Ankleshwar, Motwan, South-west Motwan, Kosamba, Kim, Olpad, Gandhar, Dahej, Pakhajan, Jambusar, Dabka, Matar and Nada — of Cambay Basin, the firm said in an application to the Environment Ministry.
“Development wells proposed to be drilled are expected to be completed in 45-60 days depending up upon the target depth. Drilling operations will be carried out with electrical type rig. Once the drilling operations are completed and if sufficient indications of hydrocarbons are noticed during drilling, the well is tested by perforation in production casing,” ONGC said.
In a separate application filed to the ministry last month, ONGC has also applied to drill 28 wells in Dayalpur and Kasomarigaon fields in Assam at a cost of Rs 625 crore. The company had earlier this year applied for Environmental Clearance (EC) for drilling 406 wells in its Mehsana asset in Gujarat at a cost of Rs 2,403 crore to tap into 13.65 Million Tonne of crude oil.
The oil and gas producer was recently awarded the environmental clearance to drill 200 wells across various fields in Sivasagar district of Assam at a cost of Rs 6,000 crore. It has notified 11 new oil and gas discoveries in the current fiscal so far.
ONGC’s crude oil production in February this year declined 5 per cent to 1,599 Thousand Metric Tonne (TMT) mainly due to decreased production from Western Offshore fields. Cumulatively, the firm’s oil production during the first 11 months of 2018-19 dropped 5.38 per cent to 19,274 TMT.
The company’s natural gas production in February rose 8.54 per cent to 1,954 Million Metric Standard Cubic Meter mainly due to increased output from fields in Tripura, Eastern Offshore and Western Offshore fields.
Cumulatively, gas production in the April-February period last fiscal increased 5.25 per cent to 22,540 MMSCM. ONGC had won two blocks under India’s maiden Open Acreage Licensing Policy (OALP) round and bagged five blocks under the second round of Discovered Small Field auctions.