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Pratim Ranjan Bose

Submits report on auctioning of offshore crude to Centre

OIL RIGS AT SAKHALIN

Kolkata , July 18

ONGC is planning to bring in the first cargo of its `equity oil' from Sakhalin-I into India in October this year. This will be refined at MRPL.

The long-term plan for transporting the crude to India, however, is not yet ready.

"We will bring in one or two cargoes of Sakhalin oil, hopefully in October, as part of a demonstration process," a senior company official told Business Line.

He added that ONGC is allowed to refine the crude, if it so wishes, in its group refinery. "It's high-quality low-sulphur crude and we will refine it."

ONGC holds 20 per cent stake in the giant oilfield through its overseas arm, ONGC Videsh Ltd (OVL).

Sakhalin-I comprises three fields - Chayvo, Odoptu, and Arkutun Dagi, to be brought into production in phases.

The other equity holders in Sakhalin-I are Exxon Neftegas Ltd (30 per cent), Sakhalin Oil and Gas Development Ltd of Japan (30 per cent), SMNG-S (11.5 per cent), and RN Astra (8.5 per cent). Exxon-N, an affiliate of Exxon Mobil, is the operator of the project.

Meanwhile, ONGC has submitted a report on auctioning of domestic crude to the Centre.

While ONGC was primarily interested in auctioning the offshore crude, bulk of which is contributed by Mumbai High fields, the Union Petroleum and Natural Gas Ministry has sought a detailed report on such possibilities from both ONGC and Oil India Ltd (OIL).

"We submitted detailed guidelines to the Ministry last month," an ONGC official said, disclosing that bulk of the on-shore crude being linked to captive use by different refineries could not be auctioned.

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