With the spudding of a well in a block in the Krishna-Godavari (KG) basin recently, state-owned Oil and Natural Gas Corporation (ONGC), the country's biggest oil and gas producer, joined Reliance Industries Ltd and Gujarat State Petroleum Corporation (GSPC) to become the third major player attempting to produce from the tricky deep waters of the Bay of Bengal.
The KG basin is an extensive deltaic plain formed by two large east coast rivers, Krishna and Godavari, in Andhra Pradesh and the adjoining sea in which these rivers discharge their waters. According to the Directorate General of Hydrocarbons, the basin is a
