ONGC is set to commence drilling of stratigraphic wells in India’s offshore basins next year to enhance energy security and reduce imports, with BP’s assistance.
The initiative, with an investment of Rs 3,200 crore, will target the Andaman, Mahanadi, Saurashtra, and Bengal basins. An agreement signed in July aims to leverage BP’s expertise in deep water exploration to identify hydrocarbon resources.
Notably, ONGC and Oil India Ltd have started exploration in the Andaman ultra-deepwater region, achieving significant findings including light crude and condensate, indicating an active petroleum system similar to those in Myanmar and North Sumatra.
Overall, ONGC has reported discoveries in 20 blocks, totaling an estimated reserve of 75 million metric tonnes of oil equivalent.
Source – sarkaritel.com
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