ONGC eyes development of nine wells in two fields

New Delhi, Mar 14 (ANI): Oil and Natural Gas Corporation Ltd. is likely to undertake drilling of nine development wells in KG-OSN-2004/1 and GS-49-2 fields.

The decision behind the undertaking is believed to be an investment outlay of Rs 3,750 crore. As per the meeting of Expert Appraisal Committee (EAC) of Ministry of Environment and Forest and Climate Change held recently, the PSU sought ministry’s nod to prepare Terms of Reference for the project.

“Cost of project is Rs 3,750 Crore. Drilling will be done for 45-60 days for each well. It is reported that no national parks, Reserve Forest (RF)/ Protected Forests (PF), Biosphere Reserves, Tiger/Elephant Reserves, etc lies within 10 km distance,” the EAC said.

The project involves the Integrated Development of block KG-OSN-2004/1 and GS-49-2 field in KG Offshore involves constructing new onshore facilities, Drilling and completion of 7 new wells in KG-OSN-2004/1 and two new wells in GS- 49-2 prospect, Subsea pipeline from offshore to new onshore terminal with a carrying capacity of 6.4 MMSCMD of gas.

In March 2005, ONGC acquired 90 percent stake and operatorship and subsequently acquired total 100 percent stake of the block. (ANI)

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