The Hindu Business Line : PMT venture plans further capacity expansion

PMT is currently commissioning a $900-million, two-part project to enhance the natural gas production and production of associated oil from 35,000 to 50,000 barrels per day through development of additional production wells. The project is slated to be fully commissioned by October 2007.

Kolkata , Sept. 7

The Panna-Mukta-Tapti joint venture operated by ONGC is planning further expansion of capacity through development of adjoining areas.

The company is currently studying the hydrocarbon prospects in the fringe areas of the existing three oilfields and would be ready with a detailed report by the end of this fiscal.

Natural gas production

PMT is currently commissioning a $900 million (over Rs 4,000 crore) two-part project to enhance the natural gas production from 10.5 to 17 mmscmd and production of associated oil from 35,000 to 50,000 barrels per day through development of additional production wells.

The project is slated to be fully commissioned by October 2007.

"We are considering development of some of the adjoining areas of the existing oilfields which fall within our exploration acreage but have been unutilised so far.

"We expect to finalise the programme by the end of this fiscal," a joint venture official said.

He, however, declined to predict the production gain or capital outlay from the proposed project.

Facing delay

Meanwhile, the first phase of capacity augmentation plan in Panna-Mukta oilfield is facing marginal delay.

The $280-million programme to develop eight production wells and two additional platforms (PH and PJ) was scheduled to be completed in October 2006.

"The project may be delayed marginally due to delay in setting up the pipeline network," the official said, adding that a number of new wells have been already brought under production.

Post-expansion, Panna-Mukta will produce an additional 1.5 mmscmd of natural gas and 5,000 bpd of associated oil.

The $520 million development plan for Tapti oilfield is, however, progressing as per schedule.

The project is due to be completed in October 2007 and will lead to additional production of 5 mmscmd natural gas and 10,000 bpd of oil.