The Hindu Business Line : ONGC to develop 3 offshore marginal gas fields

Kolkata March 14 ONGC is planning to develop its three B-series offshore marginal gas fields at an estimated cost of Rs 2,000 crore. Located closer to Mumbai High North oil field, the three reserves are expected to produce roughly 1.75 million standard cubic metre of natural gas a day.

According to sources, the company may seek board approval in this regard during the meet scheduled in April. The fields to be developed are B-48, 105 and 46.

"We are planning to develop the three proven fields located near Mumbai High North," a senior ONGC official told Business Line adding that gas produced from the fields would be taken to the MHN platform for processing.

The project, sources say, was part of the company's plan to finalise development of 29 offshore marginal fields around Mumbai High with an estimated production capacity of 12-15 mmscmd and six million tonnes of oil during this fiscal.

The estimated total investment is said to range between Rs 8,000 crore and Rs 10,000 crore. The projects are expected to be commissioned during the next three years.

ONGC has a total of 89 proven marginal reserves - mostly offshore - with estimated reserves of 200 mt of oil and 120 billion cubic metres of gas.

Having made a modest beginning in developing the same in 2005, ONGC finalised plans for two clusters of B and C series offshore reserves in 2006, expected to cost around Rs 3,000 crore each. Both the projects will be commissioned in 2008.

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