Business Daily from THE HINDU group of publications
Tuesday, Nov 25, 2008
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Business Daily from THE HINDU group of publications Tuesday, Nov 25, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Announcements
Our Bureau New Delhi, Nov. 24 ONGC has struck oil in its nomination block in Krishna-Godavari Basin. Though this is not the first success of the exploration major in the east coast, this is a fresh block, a new prospect, a senior company official said. Oil has been struck in nomination block-IG in well G-4-6, 15 km off Yanam Coast, Andhra Pradesh, he said. “The well is still under drilling. The discovery has been notified to the Directorate-General of Hydrocarbons,” he told Business Line. According to ONGC, three hydrocarbon bearing sands have been encountered in the gross interval 3,757 m to 4,185 m based on geological data, log evaluation and one mini-Drill Stem Test carried out on September 30 and October 1. The thickest sand interval (4,108–4,185 m) comprises 55 metres of net oil pay. Fast-track hubONGC plans a fast-track hub development programme, clustering geographically proximal encouraging finds including a mix of older finds such as G-2 & GS-29 with latter finds such as Padmawati, Kanakadurga, and a slew of other discoveries using a common production facility like an FPSO, the company said. “This is expected to be on course with an initial rate of 20,000 bbl a day by 2012-13 which is expected to peak to around 150,000 bbl a day by 2016-17,” ONGC said. KG block: ONGC may offer joint operatorship to BG More Stories on : Announcements | Petroleum | Oil & Natural Gas Corporation Ltd
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