ONGC opens India’s 8th hydrocarbon basin
OIL & GAS

ONGC opens India’s 8th hydrocarbon basin

State-owned Oil and Natural Gas Corporation (ONGC), opened the country’s eighth hydrocarbon producing basin at the time it started oil flow from a well in the Bengal basin. The company mentioned in a statement that the oil production commenced from Asokenagar-1 well based in 24 Parganas district.

The statement further mentioned that Asokenagar-1 well was completed as an oil producer under an early monetisation plan that was issued by the Government. Having discovered this, ONGC has put to production seven out of eight hydrocarbon producing basins of India. It covers 83% of established oil and gas reserves.

Moreover, the company is the largest oil and gas producer as it contributes 72% of India’s hydrocarbon production.

Additionally, the Bengal Basin covers approximately 1.22 lakh sq km. Of this, nearly two-thirds lies in the Bay of Bengal.

To explore hydrocarbons in the Bengal basin, ONGC has invested Rs 3,361 crore as of now. In the coming two years, the company is looking to add Rs 425 crore for exploration activities in the basin.

Dharmendra Pradhan, the Oil Minister, has dedicated the basin to the country at a function in Asokenagar, West Bengal.

On November 5, the first oil consignment was sent from well Asokenagar-1 to Indian Oil Corporation Ltd.(IOC)’s Haldi refinery. ONGC has set aside new geoscientific activities to bring more success in the new Open Acreage Licensing Policy (OALP).

It includes an appraisal programme of Asokenagar discovery over an area of approximately 739 sq km. It comprises 3D seismic, drilling of two wells and low frequency passive seismic (LFPS).

Additionally, ONGC would acquire 1,300 km of 2D, for 3D nearly 2,900 sq km and drill 13 wells over the coming three years as part of the newly awarded OALP.

Also read:ONGC doubles investment to recover from pandemic blues

State-owned Oil and Natural Gas Corporation (ONGC), opened the country’s eighth hydrocarbon producing basin at the time it started oil flow from a well in the Bengal basin. The company mentioned in a statement that the oil production commenced from Asokenagar-1 well based in 24 Parganas district. The statement further mentioned that Asokenagar-1 well was completed as an oil producer under an early monetisation plan that was issued by the Government. Having discovered this, ONGC has put to production seven out of eight hydrocarbon producing basins of India. It covers 83% of established oil and gas reserves. Moreover, the company is the largest oil and gas producer as it contributes 72% of India’s hydrocarbon production. Additionally, the Bengal Basin covers approximately 1.22 lakh sq km. Of this, nearly two-thirds lies in the Bay of Bengal. To explore hydrocarbons in the Bengal basin, ONGC has invested Rs 3,361 crore as of now. In the coming two years, the company is looking to add Rs 425 crore for exploration activities in the basin. Dharmendra Pradhan, the Oil Minister, has dedicated the basin to the country at a function in Asokenagar, West Bengal. On November 5, the first oil consignment was sent from well Asokenagar-1 to Indian Oil Corporation Ltd.(IOC)’s Haldi refinery. ONGC has set aside new geoscientific activities to bring more success in the new Open Acreage Licensing Policy (OALP). It includes an appraisal programme of Asokenagar discovery over an area of approximately 739 sq km. It comprises 3D seismic, drilling of two wells and low frequency passive seismic (LFPS). Additionally, ONGC would acquire 1,300 km of 2D, for 3D nearly 2,900 sq km and drill 13 wells over the coming three years as part of the newly awarded OALP. Also read:ONGC doubles investment to recover from pandemic blues

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement