Preparing Rs 12,000-cr redevelopment plan for Mumbai High fields
Kolkata, Sept. 9
ONGC is preparing a Rs 8,000-10,000 crore plan for the development of 29 offshore marginal fields - surrounding Mumbai High and Bassein fields - estimated to produce 12-15 metric standard cubic metre of natural gas per day (mmscmd) and close to six million tonnes of oil per annum by the end of Eleventh Plan (2007-2012). The project will be firmed up in phases latest by June 2007.
ONGC currently has a total of 89 such fields, most of which are yet to be monetised.
"Our Board has already approved the plan to develop eight C-series fields. We are expecting to seek approval for development of some of the B-series fields (B-48, B-105 and others) with an estimated production capacity of 1.9 mmscmd, this month," Mr N.K. Mitra, Director (offshore) of ONGC, told newspersons here on Saturday.
The plan for the development of the rest of the B-series fields (B-179, 22 and 183) are expected to be placed before the Board in October, followed by WO-series and D-series (D18 and 33) fields. "We are expecting to firm up the development plan for all the 29 fields latest by May-June 2007," he said.
Marginal fields apart, ONGC is also preparing a Rs 12,000-crore redevelopment plan for ageing Mumbai High North and South fields.
The redevelopment of the field will restrict the natural decline in production from the existing levels of 12.5 million tonne.
This is over and above the Rs 3000 crore estimated expenditure in replacing the process platform in Mumbai High North. The process platform was destroyed in a major fire last year.
The proposed Rs 12,000 crore redevelopment project - slated to be fully commissioned by 2012 - includes development of 17 to 18 new production wells and addition of two new platforms
"We are presently commissioning a Rs 9,000 crore redevelopment plan for Mumbai High. The project will be fully commissioned in 2007 and is expected to increase production to 12.8 million tonne a year", Mr Mitra said.
He added that the company was restricting the natural decline in yield from this old field by increasing the recoverable reserve from the existing 31 per cent to 40 per cent.