Corporate
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Restructuring
ONGC ropes in consultant
Our Bureau
KOLKATA: ONGC has roped in Gaffney, Cline & Associates (GCA) as an umbrella consultant for revamping its Assam assets by 2008. The Rs 800-crore plan for Assam targets doubling production from the region to 2.14 million tonnes.
GCA was a consultant in the redevelopment of Bombay High. The project includes drilling of 140 new wells, revamping of all surface facilities, including the drilling rigs.
According to company sources, despite being India's oldest oilfield, the Assam-Arakan basin still has the potential to produce up to 6 million tonnes of oil annually.
The company has already identified three existing fields, Geleki, Lakwa and Tipams, for immediate introduction of new technologies.
Apart from acquisition of new technology, the project has also finalised drilling 12 high-tech wells, side-tracking of 10 existing production wells and completion of 15 wells as ultra short radius drain holes. All three projects are scheduled to start in 2006.
According to the plan, production is expected to move up from 1.2 million tonnes to 1.42 million tonnes in 2006.
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