ONGC makes a significant gas discovery in Krishna Godavari off-shore
PARLIAMENTARY CONSULTATIVE COMMITTEE DISCUSS 50 YEARS OF ONGC
ONGC has made a significant gas discovery in Krishna Godavari Basin off Andhra Pradesh coast. This was announced at the Parliamentary Consultative Committee meeting held at ONGC headquarters in Dehradun today. The meeting chaired by the Union Minister for Petroleum & Natural Gas and Panchayati Raj, Shri Mani Shankar Aiyar discussed “50 Years of ONGC-Have They Made Our Lives Brighter”.
The discovery has taken place in the shallow waters of Krishna Godavari basin at well GS-15-9 being drilled on GS-15 prospect which lies at about 12 kms from Amlapuram coast. The well was spudded on 28 May’05 at a water depth of 17.8 m with a target depth of 2500 m.
Speaking at the meeting Shri Aiyar stated that ONGC today stands as a leading corporate in India engaged in exploration and production of crude oil, natural gas and production of a number of value added petroleum products. He disclosed that out of the total indigenous production of hydrocarbons, ONGC’s contribution is about 84 per cent.He further stated that over the years, the company has discovered and recovered significant reserves and today it produces 53.235 Million Metric Tonnes(MMT) of crude oil and oil equivalent gas. The ONGC has made 320 hydrocarbon finds within the country and has discovered nearly 6 billion tonnes of in-place Oil and Gas reserves in India.
ONGC through its wholly owned subsidiary, ONGC Videsh Ltd., has acquired equity oil and gas outside India. The company has also been making aggressive efforts in many other countries including Iraq, Libya, Iran, Myanmar, Saudi Arabia to acquire equity oil and gas. These National Assets will enhance energy security and also generate significant revenue streams.
Acknowledging the important role of ONGC in providing Oil and Gas to the country, Shri Aiyar underlined the need for forging alliances and entering cooperative ventures with countries that have expertise/ excellence in technology. In this regard he mentioned the tie-up between ONGC and M/s Cairn Energy(UK based exploration and production company) for exploring the Tarai region in Himalayan foothills right from Uttaranchal to Bihar in the east. This area is expected to have potential for hydrocarbons.
MPs made valuable suggestions for improving ONGC’s performance. The following members attended the meeting: Members of Lok Sabha S/Shri K Samba Siva Rao, G.V.Harsh Kumar, Kishan Singh Sangwan, Annasaheb Patil, Prof. Rasa Singh Rawat, Rajen Gohain, Dr. Arun Kumar Sarma, Baleshwar yadav, Hemlal Murmu, A.P. Abdullakutty, Laxman Chandra Seth, Bhubneshwar Prasad Mehta, Ms. Paramjit Kaur Gulshan, Ramkripal Yadav, S.Ajay Kumar and Ms Rubab Sayda. Members of Rajya Sabha : S/Shri Raju Parmar , Prof. Alka Balram Kshatriya , Nandi Yellaiah , Dwijendra Nath Sharmah, Prof. R.B.S. Varma, Ramnath Kovind, Prof. Ramdev Bhandary and Prof. M.M. Agarwal.
Later in the evening Shri Aiyar had an interaction with the media persons. CMD ONGC Shri Subir Raha and others senior officers of ONGC were present on the occasion.
RCJ/kc / gas discovery(24.6.05)
(Release ID :9840)