The Hindu Business Line : ONGC plans feasibility study gas-based power plant in Tripura

ONGC currently has three billion cubic metre gas reserves in Tripura, which is largely unutilised because of the low level of industrialisation in the north- eastern States and problems connected with transportation vis-à-vis the rest of the country.

Talking to Business Line, the ONGC Director (business development and joint venture) Dr A.K. Balyan, said, "the broad framework of the project will be finalised in a month." The company has already conducted a pre-feasibility study on the proposed project.

Expected to cost roughly Rs 3,500 crore, the power project will place ONGC in the IPP category. The project is being taken up in collaboration with Infrastructure Finance and Leasing Services Ltd (IL & FS) and Power Trading Corporation (PTC). "We have entered into requisite agreements with our collaborators," Dr Balyan said.

A special purpose vehicle (SPV) involving IL & FS and PTC may be floated for development of the project. While IL & FS will take care of the land acquisition, clearances, etc, PTC will provide the much needed payment security for power generated. ONGC will retain the management control of the power station.

Dr Balyan said that ONGC had also launched a pilot project on harnessing wind energy at a few select rigs and wells on the west coast where the grid supply was qualitatively poor and insufficient. The project will be taken up by the upcoming energy research centre of the company.

Currently generating roughly 1,000 MW at its different installations, ONGC has also taken up a project to network all such generators through a grid for optimal utilisation of resources. Once implemented, ONGC will have 250 MW surplus capacity which could be sold commercially. The company currently sells roughly 100 MW power to different utilities in the western region.

Report on KG basin find soon

ONGC is in the final leg of identifying reserves in the Krishna-Godavari basin. Expecting a major find, the company is now giving a final touch to the results of its drilling exercises in the basin.

"Work is going on in full swing and we are expecting to finalise the report in the next two to three weeks", Dr. A K Balyan said. ONGC is engaged in exploration work in three deep sea blocks in the KG basin.

Earlier, the ONGC Chairman, Mr Subir Raha, had mentioned that the company had access to "very interesting exploration data" in the basin and was "expecting to come out with good news soon."

ONGC has finalised the drilling contract for the Bengal off-shore blocks near the Sunderbans. "The rig we have has already worked in the KG basin and needs 90 days mobilisation period before starting the exploration," Dr Balyan said.

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