6:16 pm - Thursday November 5, 2015

ONGC Completes Drilling of Six Exploratory Wells

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Undated handout photo of India's Reliance Industries KG-D6's control and raiser platform seen off the Bay of Bengal

Vadodara: ONGC has completed drilling of six exploratory wells so far, out of its target of 36 for this year, a top executive said on Thursday.

“We have a target of 36 exploratory wells this year, out of which 6 wells have been completed till date,” G C Katiyar, executive director, basin manager of Western Onshore Basin, said while speaking at an event to mark the 59th ONGC Day at its office located in Makarpura area of the city.

On the performance of the national explorer during the last fiscal year, Mr Katiyar said, “A total of 30 exploratory wells were drilled, out of which 19 wells are turned out to be hydrocarbon bearing.”

“These successes resulted in accretion of in place reserve to the tune of 21 MMToE (million metric tonne oil equivalent) and ultimate reserve to the tune of 1.36 MMToE,” the executive director said.

He said that production from the entire Cambay Basin last year stood at 6.20 MMToE, of which oil is 4.82 MMT.

On the occasion, he announced a financial assistance of Rs.14,88,745 as part of the ONGC’s CSR, which will be used to purchase 41 buses for ferrying the hearing impaired children of a school, run by an NGO, near Vadodara.

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