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Ongc Oil Inda
Oil and Natural Gas Corporation Limited (ONGC) is set to invest Rs 8,110 crore for onshore development and production of oil and gas from 172 wells in eight PML (production mining license) blocks in Andhra Pradesh. A committee under the Ministry of Environment, Forest and Climate Change has recommended Environmental Clearance for the project in a meeting held last month. The estimated project cost is Rs 8110 crore. Capital cost of EMP (Environment Management Plan) would be Rs. 172 crore and recurring cost for EMP would be Rs. 91.16 Crores per annum. Industry proposes to allocate Rs. 11 crores for commitments made in Public Hearing, Expert Appraisal Committee said in the minutes of the meeting. While recommending the EC, the committee directed the ONGC to comply with all the environmental protection measures and safeguards proposed in the documents submitted to the Ministry. All the recommendations made in the EIA/EMP in respect of environmental management, and risk mitigation measu
State-owned Oil and Natural Gas Corporation (ONGC) on Saturday said it has made "significant" headway in controlling the gas blowout at the Assam well, with flow rates reducing substantially. The blowout -- or uncontrolled flow of natural gas -- took place on June 12 at a well of the Rudrasagar oil field of ONGC at Barichuk. A private firm, S K Petro Services, was operating the well on behalf of the company. In a statement, ONGC said it "has made significant headway in its well control operations at RDS#147A, with the flow rate of gas having reduced substantially, marking a critical step forward in containment efforts." The international expert team from CUDD Pressure Control, USA, who arrived on site on Friday, has conducted a preliminary assessment of the situation and reviewed all actions undertaken by ONGC teams so far. "The experts have expressed their agreement with the strategy and execution carried out to date, reaffirming the effectiveness of ONGC's approach to safely ...
After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal. ONGC on June 12 sought expression of interest from "global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy" for the field, according to the tender document. The field has produced negligible quantities of gas since ONGC in January 2017 acquired Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block off the east coast of India. The block contains the Deen Dayal West (DDW) gas/condensate field which was discovered by GSPC almost two decades back. The Gujarat government company had showcased the field as a promising prospect when it sold its stake to ONGC in order to cut its debt. The field, which was initially said to hold
State-owned Oil and Natural Gas Corporation (ONGC) is seeking foreign partners to reverse declining output at its flagship Mumbai High fields, offering a share of revenue from incremental production plus a fixed fee but not any equity stake. ONGC on June 1 floated an international tender seeking global technical services providers (TSP) with annual revenue of at least USD 75 billion, according to the tender document. The TSP would have to do a comprehensive review of the field performance and identify improvements as well as implement suitable technological interventions and practices for improving production and recovery, it said. Bidders have been asked to quote quarterly incremental production they can enable over the 10-year contract period as well as the percentage share of the revenue they want from the sale of oil and gas produced over and above the baseline production. Bids are due by September 15, 2024. The TSP, who would be selected on the basis of one offering the highe
India's top oil and gas producer ONGC has slashed helicopter sorties to its installations in the middle of sea on both east and west coast for three months to avoid any repeat of deadly accidents during monsoon that have plagued the firm's otherwise impeccable record, sources said. Oil and Natural Gas Corporation (ONGC) has raised the duration of work-related stay of its employees at offshore platforms that help produce oil and gas from below seabed, from 14 days to 21 days but still short of the international norm of 28 days. This temporary measure is only for three months from June to August and has been effected with a view to cut the number of sorties helicopters would need to undertake to ferry men and material to the installations, two sources with knowledge of the matter said. ONGC did not reply to an email seeking to know why it is following a 21-day cycle when internationally 28-day cycle is followed. Internationally, personnel manning offshore oil and gas installations ar
State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) Ltd have been slapped with fines for the fourth straight quarter for failing to meet listing requirements of having the requisite number of directors on their board. Stock exchanges imposed a cumulative fine of Rs 34 lakh on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the January-March quarter, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women director in the quarter ended March 31, 2024 (fourth quarter of 2023-24 fiscal year), but were quick to point out tha
State-controlled Oil and Natural Gas Corporation (ONGC) will kick off oil production from its much-delayed flagship deepsea project in Krishna Godavari basin in Bay of Bengal this month, helping reverse years of decline in output, a senior company official said. "We plan to start producing from the Cluster-2 project in KG-DWN-98/2 block this month and slowly ramp up," ONGC Director (Production) Pankaj Kumar told PTI here. A floating production unit, called FPSO, which will be used to produce oil, is already in the block. After several missed deadlines, ONGC has told Shapoorji Pallonji Oil & Gas (SPOG) that its floating production, storage and offloading vessel (FPSO) Armada Sterling-V should prepare to receive the first oil this month. Oil production from Cluster-2 should have begun by November 2021, but was delayed because of the pandemic. Kumar said ONGC plans to start producing from 3 to 4 wells initially and slowly connect others. "Initial production could be 8,000 to 9,000 ...
State-owned Oil and Natural Gas Corporation's (ONGC) first deepsea project in the KG basin was hit when a floating oil storage vessel got entangled with fishing nets, prompting the state-owned firm to seek help for the Indian Navy. Armada Sterling V floating production, storage and offloading (FPSO) vessel, which ONGC will use to produce oil from its KG-DWN-98/2 or KG-D5 block, got entangled with long nets, according to the company's social media posts. The company sought help from the Indian Navy whose divers helped remove the nets after a month-long operation. Commissioning operations resumed after that. "The operations halted as the FPSO Armada Sterling V was stranded due to large fishing nets getting entangled in its fuel-extracting mechanism. Timely action by @IndiannavyMedia / @indiannavy has completely restored operations enabling considerable savings to the exchequer," ONGC said in a Tweet. ONGC via LinkedIn expressed its "immense gratitude" to the Indian Navy "for extendin