Join Hands to Build a Smarter India: Sign in | Join now
News

ONGC Board Approves Rs 600 cr Investment Proposal

Wednesday, 25 April 2012, 23:00 Hrs
29
20
39
9
Print Email
Bangalore: State-owned Oil and Natural Gas Corp (ONGC) said its board has approved an investment of Rs 600 crore for development of Western Periphery oil and gas deposits off the west coast.

The Board in its meeting today "approved investment proposal for Development of Western Periphery as a part of Mumbai High South Field, Phase III Redevelopment, at an estimated cost of 600.17 crore," the company said in a statement here.

The project, scheduled to be completed by December 2014, is expected to result in incremental production of 1.031 million tonnes of oil and 213.817 million cubic meters of gas by March 2030. "The project envisages installation of one 12 slot four-legged unmanned platform, drilling of 10 wells and associated modifications and pipelines for well fluid, gas lift and water injection," it said.

Mumbai High South field's Phase-I redevelopment project, which was completed in 2007, helped significantly arrest the decline in production and increased it from level of 131,400 barrels per day (bpd) in June 2001 to 173,000 bpd by beginning of 2007. The phase-II which was launched after the completion of Phase-I to further improve the recovery factor is in advance stage of completion and is expected to improve oil recovery to 34.5% by March 2030.

ONGC said four new discoveries have been notified to the authorities. Exploration well Phulani-1 in Merapani block of Assam and Assam Arakan basin found oil. The well Phulani prospect is situated at a distance of about 20 km south-east of Golaghat town in Golaghat district of Assam.

Also, oil and gas was found in an exploration well on Advipalem-Poonamanda block in Krishna Godavari basin, 20 km south of Amalapuram town in East Godavari district of Andhra Pradesh. ONGC said it also found gas in a L-II block in Cauvery onland basin and in BOFF-1,2,3 blok in western offshore basin.
Source: PTI
Experts on SiliconIndia
Zafar  Ahmad
IT Project Manager
Infogain
Prakash  Kumar
Director IT
Delta Electronics In
Aakash  Mulchandani
Sr. Engg
Qualcomm
Siddharth  Sharma
Assistant Manager
Manipal
Guruprasad  Hegde
Founder and CEO
RealGuruu
Suresh  Avantsa
Founder
hubVirt Software
Chayan  Bhattacharjee
HR-Manager
TBG
Manoj Chandraprakash Powar
Managing Partner
Fountainhead
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
 
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved