ONGC finds empty reserves in Kerala-Konkan basin

ONGC could not find potential reserves from its high cost ultra-deepwater drilling campaign in the Kerala-Konkan basin worth Rs 400 crore. In August, the company launched a one well drilling programme in a NELP-IV deepwater block KG-DWN-2002/3. ONGC holds 80 per cent operating stake in the block and its consortium partner, HPCL, has 20 per cent participatory interest. Meanwhile, the drilling campaign at Kerala-Konkan has exceeded the scheduled timeframe by at least 30 days leading to additional costs. Contact: ONGC. Tel: 0135-275 9561. Website: www.ongc-india.com