Tuesday, January 8, 2019

ONGC to invest Rs 6,000 cr for drilling wells in Assam: Report

ONGC (Oil and Natural Gas Corporation) is looking at drilling 200 wells across various fields in Sivasagar district of Assam at a cost of Rs 6,000 crore, , the country’s largest producer of oil and gas, said in an application submitted to the environment ministry.
The Expert Appraisal Committee had last month recommended the project for grant of environmental clearance, subject to compliance of terms and conditions.
The Maharatna PSU said that the Assam asset (Nazira) covers the entire North Assam Shelf, which consists of major oil and gas producing fields such as...
Geleki, Lakwa, Lakhmani, Laipilingaon, Rudrasagar, Charali, Changmai gaon and Disangmukh oilfields and satellite fields in Sivasagar district.
“Though these Nazira sector oilfields have been established, they need to be developed through drilling at various locations. For the development of these fields of North Assam Shelf, 200 development locations are proposed to be drilled during the next seven years starting from the year 2018-2019 in the fields of Sivasagar district,” the company said in its application.
The investment will take place Sivasagar and Charaideo districts of Upper Assam. ONGC is also planning to hire over 300 persons in the state, ONGC Director (Onshore) S K Moitra said “The ONGC would be investing about Rs 6,000 crore in drilling 200 developmental wells across fields under ONGC Assam Asset in Sivasagar and Charaideo districts,” Moitra said in a statement.
The wells are proposed to be drilled during the next seven years starting from the current financial year, he added.
“All statutory clearances are being obtained. The investment will lead to increase in production from the state,” Moitra said.
The ONGC is giving further impetus to its activities in alignment with the prime minister’s call for reducing import by 10% by 2022 and North East Hydrocarbon Vision 2030, he added.
Talking about hiring in the state, Moitra said: “The ONGC Management has always accorded top priority to Assam and in 2019, special focus is being given. As a New Year gift, 308 posts for recruitment by ONGC Assam Asset (non-executive level) has been announced.”
According to the company, ONGC-owned electrical type rigs are proposed to be deployed for undertaking drilling in the proposed locations and drilling of each well will require about three to four months.
ONGC’s cumulative crude oil production from Assam fields during the April-October 2018 period grew 2.12 percent to 585.17 thousand tonne (TMT), while natural gas production during the period from Assam fields declined 4 percent to 288 million standard cubic meters (MMSCM).
ONGC’s crude oil production in October 2018 fell 6.56 percent to 1,765 TMT, as compared to 1,889 TMT produced in the corresponding month a year ago.
Cumulatively, total crude oil production by ONGC during April-October period dropped 5.68 per cent to 12,442 TMT, as compared to 13,191 TMT produced in the corresponding period a year ago.
The company’s natural gas production in October increased 4.60 per cent to 2,110 MMSCM.
Cumulatively, the company’s gas production during the April-October period increased 3.18 per cent to 14,128 MMSCM as compared to 13,693 MMSCM produced in the corresponding period a year ago.

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