The Hindu Business Line : ONGC signs MoU with Russian co

Oil recovery
The agreement aims to put the ageing fields back on production and also arrest decline from matured fields
`TGT has technology to increase recovery factor up to 45 per cent'

New Delhi , Jan. 19

Oil and Natural Gas Corporation (ONGC) has inked a memorandum of understanding with Tatarska Geophysica Technologies (TGT) of Russia for increasing production of matured fields.

TGT is a Russian service provider in well and reservoir management operating in many countries in the Asian region.

The objective of the MoU is to put the ageing fields back on production and also arrest decline from matured fields with TGT's latest technology. The MoU was signed on the sidelines of the Petrotech-2007.

Latest technology

The Director of Exploration, ONGC, Mr D.K. Pande, said, "The agreement aims to put the ageing fields back on production and also arrest decline from matured fields with TGT's state-of-the art enhanced oil recovery and improved oil recovery technology.

"The technology, as assured, would enhance oil production from old and ageing fields and tight reservoirs."

"In the current oil prices scenario, the two most important activities for any oil company in development and production front are sustainable production from ageing fields, and enhancement of recovery factor. TGT has technology to increase recovery factor up to 45 per cent," he added.

Average recovery

The average recovery rate from ONGC's oilfields is between 28 per cent and 30 per cent, which is even lower in the old fields.

The MoU was signed by Mr Pande and the Managing Director of TGT, Mr Roustam Khamitov, in the presence of the Union Minister for Petroleum and Natural Gas, Mr Murli Deora.