Business Daily from THE HINDU group of publications Saturday, Jan 26, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Outlook Industry & Economy - Petroleum
Our Bureau Kolkata, Jan. 25 ONGC is exploring the scope of further modification in its Coal Bed Methane(CBM) development strategy. The State-run upstream energy major, which is currently implementing $200 million turnkey exploration and development of CBM projects in six blocks located in Jharkhand and West Bengal, is planning to appoint an international consultant to recommend measures to improve the project feasibility. According to sources, recent reviews suggested a few missing links in the existing exploration and development strategy taken up by the company in these six blocks. “To improve the project viability, we have therefore launched an internal review campaign. Depending upon the outcome of the internal review we may consider appointing an international consultant,” a company official said. The internal review would be complete in next three to four years. Future planElaborating on the future plan, the source said that as per the ongoing project ONGC is targeting drilling of 14 development wells and 22 pilot wells in the discovered fields of Jharia, Bokaro and North Karanpura in 54 months leading to a peak production of 7.5 lakh cubic ft of CBM a day. “Fresh considerations suggest that we may go for drilling of more development wells to increase the peak production of the discovered fields. Some modifications may be required to improve the flow rate of the planned development wells. Also, we are considering taking up fresh exploration campaigns in Ranigunj, North Karanpura and the unexplored part of the Jharia block,” the official said. Interestingly, ONGC has recently struck fresh CBM discoveries in the hitherto unexplored part of the Jharia block. Meanwhile the company is trying to attract industries to set up shop closer to production wells for immediate sale of gas. As the first step in this direction, the company is negotiating with a user company to set up shop closer to its existing four production wells in Jharia (producing in the range of 20,000 cubic metre a day). More Stories on : Outlook | Petroleum | Oil & Natural Gas Corporation Ltd
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