OIL and Natural Gas Corp (ONGC), which
holds 25 per cent stake in Deepwater exploration in the
Sergipe-Alagoas Basin, and Brazil's state-owned Petroleo Brasileiro
SA, have discovered a new deposit of light oil in deep waters off the
coast of the northern state of Sergipe. Petrobras is the operator and
has 75 per cent stake in the prospect.
Well 3-SES-189, located in the Poço
Verde area discovered in 2012 in the BM-SEAL-4 exploration block, was
drilled down to 5,350 meters in waters 2,479 meters deep.
Drilling began on April 6 by...
Diamond
Offshore Drilling Inc (DO.N) with its Ocean Courage semisubmersible
rig.
"The reservoirs contain light oil
of good market value and are 85 meters wide, with good porous and
permeable conditions," a Petrobras statement said. It said
another test is needed to confirm the conditions and establish the
well's potential.
Deepwater exploration in the
Sergipe-Alagoas Basin by Petrobras, ONGC and India's Videocon
Industries Ltd and Bharat Petroleum Corp. has resulted in some of
Brazil's largest oil discoveries outside the giant finds in the
Santos Basin.
In a related development, ONGC will
explore four of its coal bed methane blocks on its own. This will
require an investment of Rs 5,000 crore.
D K Sarraf, chairman and managing
director, said, “We have decided to expedite development in our CBM
blocks. CBM does not require technology or expert knowledge. We were
in this business and our team is familiar with exploration plans”.
ONGC has so far spent Rs 510 crore on
the four blocks.
“We will start development, but if
anyone wishes to partner us we will be happy. Besides, after
production is visible, we might get a better price from prospective
partners,” Sarraf added.
ONGC twice in the past tried selling
stakes in the four blocks in Jharia, Bokaro and North Karanpura in
Jharkhand and Raniganj North in West Bengal.
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