Financial Daily from THE HINDU group of publications
Sunday, Dec 26, 2004
Financial Daily from THE HINDU group of publications Sunday, Dec 26, 2004 |
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Corporate
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Announcements ONGC to start exploration in Sunderbans Pratim Ranjan Bose
Kolkata , Dec. 25 OIL and Natural Gas Corporation will finally start exploring for oil in the Sunderbans, the Mahanadi basin, Tripura and Andamans during 2005. The company has already decided on making Paradip its `nodal port' for carrying out exploration at the two offshore blocks in the Sunderbans beginning March. The importance of Paradip is set to increase with the commencement of exploration in six offshore blocks and four onshore blocks in the Mahanadi basin beginning July-August. Exploration in the deep-water blocks in the Andamans will begin sometime at the end of 2005. The company has leased a trans-ocean rig to carry out exploration work in the shallow (20 metre draft) waters of the Sunderbans. Currently, deployed in the KG basin, the rig will move to the Sunderbans by March 5.
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