Financial Daily from THE HINDU group of publications
Wednesday, Feb 08, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 08, 2006 |
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Corporate
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Outlook ONGC spots oil fields for re-development Our Bureau
Kolkata. Feb. 7 , ONGC has identified 21 locations in its ageing oil fields on the West coast for re-development. After re-development, the recovery rate of these locations is expected to increase from the existing 26-28 per cent to 40 per cent. Company sources said that almost half of the wells identified for re-redevelopment are located in the dying oil field of Gandhar. Other oil fields where selective re-development would be carried out are Ankleswar, Sisodra, Kosamba and Dabka. Incidentally, Ankleswar was the first field brought into production by ONGC. Most of the five oilfields are located in Gujarat, producing a little over 6 million tonnes of oil. The company also targets 6 million metric standard cubic metres per day (mmscmd) natural gas production in Tripura. Currently, it has a production potential of 4.5 mmscmd gas in the State. However, a large part of the identified fields are either not brought into production or capped due to lack of demand. Production is maintained at 1.7 mmscmd against a total demand of 1.5 mmscmd. The identified production potential would be fully utilised following the commissioning of 750-MW ONGC Tripura Power Company Ltd (ONGC). The company is now targeting to add another 1.5 mmscmd capacity in the State, to support the future expansion plan of OTPCL to 1,100 MW.
More Stories on : Outlook | Petroleum | Oil & Natural Gas Corporation Ltd
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