Financial Daily from THE HINDU group of publications
Thursday, Jan 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 13, 2005 |
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Corporate
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Announcements Industry & Economy - Petroleum K-G deepwater blocks: Australian co bags ONGC contract Our Bureau
Kolkata , Jan. 12 ONGC has awarded turnkey contract for the `integrated development of deepwater blocks in Krishna-Godavari offshore' to Clough Engineering Ltd of Australia. The fields are expected to produce one million tonne of low sulphur crude oil and six billion cubic metre of natural gas over an expected life cycle of 15 years. The Rs 1,004-crore contract is the first of its kind awarded by ONGC for development of deepwater field According to ONGC official sources, the development of G1 block - located 28 km off-shore in water depths ranging between 135 metres and 500 metres - will create India's first `digital oil and gas fields' with remotely monitored and controlled `smart wells'. As per the contract, Clough Engineering will drill five production wells in G-1 block and will lay dual sub-sea pipeline from 429-metre water depth for transporting the well fluid to the processing facilities on-shore. G-15 is a shallow water field located five km offshore and is integrated with the project. Already a known operator in the deepwater fields, ONGC has previously `conventionally' drilled a well (GSDW1-1A) at 2,839 water depth in the Western coast. The well is regarded as the deepest of its kind outside the Atlantic.
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