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| ONGC puts on hold development of six discoveries |
| Ajay Modi / New Delhi Jul 27, 2009, 00:31 IST |
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Oil and Natural Gas Corporation (ONGC), the country’s largest oil exploration and production company, has kept on hold development of six prospective discoveries made in recent years due to lack of infrastructure in such areas.
“Discoveries like Karjan, Linch and Mekrang lie in isolated areas where no infrastructure is available. We are not preparing a detailed development plan for six such discoveries. Moreover, we have not found any customers for these discoveries. But we would be developing infrastructure in a gradual manner,” said a company official.
These six discoveries are a part of 66 (26 onshore and 40 offshore) finds in various stages of exploration. Of the remaining 60, seven are under development, nine under delineation and 10 under appraisal. Another 29 are under study. There are five discoveries where the production has been linked with the requirement of customers. One is in Tripura, where the production has been linked to an upcoming power plant which is likely to become operational from 2012-13. The power plant is being jointly developed by ONGC, IL&FS and the Tripura government.
“We are in the process of crystallising the plans to put these discoveries into production, keeping in view the connectivity and resource planning,” he added.
Oil from the East Coast’s G-4-6 field, in the Krishna-Godavari block, is likely from 2011. 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 and would reach a peak of 150,000 barrels per day by 2016. ONGC’s total crude oil production during 2008-09 was 6.12 million tonnes. It produced 5.75 billion cubic metres of natural gas.
The company has made 111 discoveries during the past six years, 45 of which have been put into production.
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