ONGC announces discovery in Krishna Godavari block
Monday, 24 November 2008, 20:30 IST
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New Delhi: The state-run exploration company, Oil and Natural Gas Corp(ONGC), has made another hydrocarbon discovery in an offshore Krishna-Godavari block, it said Monday. A company statement said three hydrocarbon bearing sands had been encountered between 3,757 metres to 4,185 metres. "The thickest sand interval (4,108-4,185 metres) comprises 55 metres of net oil pay," it said. ONGC has already made several discoveries in KG basin, including the 2006 ultra-deep discovery at 2,841 metres. The press statement said ONGC planned a fast-track hub development programme, clustering a mix of oil and new wells around a common production facility. The target is for production of 20,000 barrels of oil per day by 2012-13, to a peak of 150,000 barrel daily by 2016-17.
Source: IANS
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