ONGC discovers oil in Arabian sea
State-owned Oil and Natural
Gas Corp. (ONGC) has made a significant oil discovery to the west of its prime
Mumbai High fields in the Arabian sea.
The discovery in the well
WO-24-3 is estimated to hold an in-place reserve of about 20 million tonnes, he
said. Mumbai High, India’s biggest oil field, currently produces 205,000
barrels of oil per day (just over 10 million tonnes per annum) and the new find
would add to that production in less than two years time.
Further appraisal
ONGC is carrying out a
further appraisal of the discovery and has intimated upstream regulator
Directorate General of Hydrocarbons.
This is a mid-sized
discovery but a significant one.
The new find, which comes
almost 50 years after ONGC began production in Mumbai High, will help the
company maintain production levels from the basin for a longer time than
currently estimated.
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