![]() Financial Daily from THE HINDU group of publications Wednesday, Oct 05, 2005 |
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Industry & Economy
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Petroleum Tech snags hit ONGC Bengal offshore drilling Pratim Ranjan Bose
Kolkata , Oct. 4 , ONGC's exploration drilling of the first well in Bengal offshore has run into rough weather. Recurrence of technical problems has so far defeated the company's efforts to reach the targeted depth of 4,700 metres. Currently struck at 4,400 metres, the company's schedule was to complete drilling and the evaluation of the first well within 180 days from March 22, 2005. Official sources describe the inability to meet the target as "nothing serious". The ONGC Director, Exploration, Mr A.K. Pande, admitted that drilling work had faced repeated technical complications, but said such problems were common in exploratory drilling, especially offshore. "We do not anticipate abandoning the well," he asserted. ONGC has already announced a Rs 500-crore capital outlay for drilling four exploratory wells in the block for a period of two years. Drilling at Mahanadi basin: On the company's proposed exploration drilling in an offshore block in the Mahanadi basin, he said though the Union Ministry of Environment and Forests had given in-principle approval for the project the company was yet to receive any formal clearance. The Ministry had previously expressed its concern regarding drilling activities along the Orissa coastline because of the threat it could pose to Olive Ridley turtles. The giant turtles visit the coast during January to March for breeding. However, after extended discussions with ONGC, the Ministry had agreed to allow drilling in the region except for January-March period. However, the delay in the appointment of an independent agency to oversee the arrangement has led to the postponement of the entire exploration schedule.
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