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ONGC makes 3 oil, gas discoveries

25th March 2013

India’s largest explorer finds oil and gas in three blocks, discoveries “significant” and with high potential

ONGC makes 3 oil, gas discoveries
ONGC energy production during fiscal 2012 reached 26.92 million tonnes of oil and 25.51 billion cubic metres of gas

Indian energy giant ONGC on Thursday announced three new oil and gas discoveries , two in the Krishna-Godavari basin in the country’s east coast and another in Agartala, Tripura.

In a written statement, India’s largest explorer described the discoveries as “significant” and with high potential although it did not disclose any information regarding resource or reserve estimates.

The exploratory well Vanaduru South 1 in the Krishna-Godavari basin flowed at the rate of 181 barrels per day of oil and gas at the rate of 51,772 cubic metres per day, ONGC said in its pre-licensing round.

In the NELP block KG-OSN-2004/1 in Krishna-Godavari, on testing the first interval gas flowed at the rate of 4,09,453 cubic metres per day.

In Tripura, conventional testing showed gas at the rate of 1,08,576 cubic metres per day day, ONGC said.

ONGC energy production during fiscal 2012 reached 26.92 million tonnes of oil and 25.51 billion cubic metres of gas.  These figures are expected to rise slightly over the current fiscal year. India is currently the world’s fourth largest energy consumer.