25.11.08

ONGC strikes oil in eastern AP offshore

Oil & Natural Gas Corp said that it has made a ‘significant’ oil discovery in an east coast Krishna-Godavari block off Andhra Pradesh but did not elaborate on the size of the find.“Three hydrocarbon bearing sands have been encountered in the gross interval 3,757 meters to 4,185 meters based on geological data, log evaluation and one mini-drill stem test carried out on September 30 and October 1. The thickest sand interval (4108-4185 meters) comprises 55 metres of net oil pay,” ONGC said in a press statement.Oil was struck at a water depth of 225 meters in well G-4-6 of Block IG which ONGC got from government on nomination basis. The oil volume from the area, when nearby finds are developed through a common production facility, would provide an initial 20,000 barrels per day by 2012-13 with peak of around 150,000 bpd by 2016-17, ONGC said. The company, however, did not state the quantum of reserves it had encountered. The discovery is the most significant find after the ultradeep sea UD-1 gas discovery in the Krishna-Godavari basin in December 2006.The discovery at G-4-6 “augurs well as it marks the ONGC’s determined efforts to put the KG offshore to new and higher levels of oil production,” said the company statement.
ONGC plans a fast-track hub development programme, clustering geographically proximal encouraging finds including a mix of older finds like G-2 & GS-29 with latter finds like Padmawati, Kanakadurga, and a slew of other discoveries using a common production facility like an FPSO.

No comments: