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ONGC has notified two new oil and gas discoveries in the Western part of the country.
According to ONGC, the oil in the NELP block in Cambay basin is of very good quality and the one in pre-NELP western onshore basin is heavy oil.
The oil flow in the NELP-VII block CB-ONN-2004/2 is at the rate of 22.5 cubic metre a day and gas at the rate of 3,758 cubic metre per day. In the Pre-NELP block (North Kadi 461) the oil flow is at the rate of 17 cubic meter per day.
According to a statement issued by ONGC, after its board meeting here on Wednesday, the company has notified to the Directorate General of Hydrocarbons on March 16 about its NELP-VII block discovery. ONGC has 50 per cent participating interest, with GSPC and Sunterra holding 40 per cent and 10 per cent, respectively.
The pre-NELP block discovery was notified to DGH on April 5.
“It is important to note that for the first time oil flow has been established in commercial quantity in the particular Mandhali section in North Kadi and adjoining areas,” the company added.
The board also noted that ONGC has concluded FY 2011 with total 24 discoveries in its domestic fields of operation excluding North Kadi 461, Western Onshore Basin, as it has been reported in April, 2011.
Out of these 24 discoveries, 15 are onshore (11 new Prospects and four new pools) and 9 are offshore (four new prospects and five new Pools). Of these, five discoveries are in NELP blocks.
During 2010-11, ONGC added 236.92 million tonne oil and oil equivalent gas (Mtoe) and in-place hydrocarbon with 83.56 Mtoe as the ultimate reserve surpassing the record breaking performance of previous fiscal (82.98 Mtoe).
The combined oil plus oil equivalent gas production of ONGC Group (including ONGC domestic, shares in domestic joint ventures and overseas operation of OVL) in FY'11 is 62.029 Mtoe.
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