Financial Daily from THE HINDU group of publications Friday, Dec 10, 2004 |
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Industry & Economy
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Petroleum Indo-Norwegian oil projects get a boost Our Bureau
Hyderabad , Dec. 9 INDO-NORWEGIAN collaborative research projects have got a boost, with Norway providing funds worth 50 million Norwegian kroner (Rs 35 crore) over a five-year period. About 20 scientific projects would be taken up, according to Mr P.L. Narayana, Head of the Chief Monitoring Unit, Indo-Norwegian Projects on Institutional Cooperation (INPIC). Under INPIC, an important project to enhance secondary oil recovery from oil wells in the country is being launched from February 2005 by a Minister from Norway, he told newspersons here. The Hyderabad-based National Geophysical Research Institute (NGRI) will lead the two-year project with expertise from Norway. Under INPIC, collaborative projects in health, natural disasters, aquaculture, pollution and environmental technologies are under way, he said. The Director of NGRI, Dr V.P. Dimri, said the recovery of secondary oil currently is between 25 per cent and 28 per cent in India, while Norway has rates of 60-65 per cent. By enhancing recovery, huge sums of money are saved and returns on higher yields will earn more. The NGRI is discussing with the Oil and Natural Gas Corporation (ONGC) and other oil companies, which have wells, to use the expertise to enhance oil recovery, he said. A combination of NGRI-developed Fractal monitoring (a mathematical approach, which helps to find out the location of oil in reservoirs) and the 4-D technique of Norway would be used to pinpoint places where water can be injected to create adequate pressure to push oil upwards in the well for easy recovery, Dr Dimri said.
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