• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Aug. 3

THE Petroleum Minister, Mr Mani Shankar Aiyar, on Wednesday, while appreciating Oil and Natural Gas Corporation's rapid and effective search and rescue operations, said that the devastating fire at an oil facility off Mumbai coast last week was a natural disaster.

Making a statement in Rajya Sabha, the Minister said that high-level independent inquiry would go into causes of the Bombay High. ``It was a nature decreed accident which could not have been provided for in advance,'' he said.

It is now reported by ONGC that a total of 383 personnel had to abandon the affected platform, the multi-purpose support vessel (MSV) and the drilling rig NC Yester. Out of the 383 personnel, 361 have been rescued, including the six divers on the MSV. So far, 11 personnel are confirmed dead, of whom eight are from ONGC, two from NC Yester, and one from the Shipping Corporation of India. While search operations are still on for 11 persons.

Regarding the financial loss, the Minister said that although the platform was destroyed in less than two hours, there will not be any significant financial loss to ONGC as the platform was insured for $195 million.

As regards loss of production, the Minister said, consequent to an emergency plant put together within hours of the accident, ONGC will be able to restore 60 per cent to 70 per cent of the lost production by month end.

The collapse of the platform had immediately affected 1,23,000 barrels per day of crude oil production.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Safety programme comes to ONGC's aid in managing crisis

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line