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State-owned Oil and Pure Gasoline Company (ONGC) is looking for companions to rescue the Deen Dayal gasoline discipline within the KG basin in Bay of Bengal. The state-owned oil and gasoline explorer has spent practically to $1.2 billion over seven years and has seen little success.
ONGC on June 12 sought expression of curiosity from “international oil and gasoline firms with requisite technical experience and monetary energy to hitch as companion (with participative curiosity) for firming up a viable technique” for the sector, in accordance with the tender doc.
The sector has produced negligible portions of gasoline since January 2017 when ONGC acquired Gujarat State Petroleum Company’s (GSPC) 80 % curiosity within the KG-OSN-2001/3 block off the east coast of India.
The block accommodates the Deen Dayal West (DDW) gasoline/condensate discipline, which was found by GSPC nearly twenty years again. Throughout the stake sale to ONGC, the Gujarat authorities firm had showcased the sector as a promising prospect.
The sector, which was initially stated to carry as much as 20 trillion cubic toes (tcf) of in-place gasoline reserves – by far the most important in any deep-sea discipline within the nation – however was later trimmed to a tenth, has proved to be more durable than anticipated.
“A complete of seven improvement wells are drilled until date,” ONGC stated within the tender doc. A improvement properly is one which helps produce hydrocarbon from beneath the earth’s floor or seabed.
“Nevertheless, 4 wells which had been accomplished didn’t yield good productiveness as anticipated and efficiency was sub-optimal. Extreme technical challenges and issues had been encountered within the different three wells throughout drilling and completion section and needed to be deserted,” ONGC stated.
The corporate now desires a worldwide companion, who might assist with the event of DDW. Moreover the acquisition price, ONGC has spent undeclared sum of cash in making an attempt to carry the DDW discipline to manufacturing.
The KG-OSN-2001/3 block, which was awarded to GSPC and its companions within the first bid spherical of New Exploration Licensing Coverage (NELP) introduced by the then NDA authorities beneath Prime Minister Atal Bihari Vajpayee, contains 5 fields – DDW, DDE, DDN, DD-DT and DD-BRU. Of those, DDW, which lies about 10 km off the Andhra Pradesh coast, is unfold over 37.5 sq. kilometers and is beneath improvement.
DDW already has a properly head platform with 16 properly slots, a course of platform that has capability to course of 5.66 million normal cubic meters per day of gasoline, and a subsea pipeline to take the gasoline to an onshore terminal.
ONGC stated the reservoirs within the discipline are categorized as high-pressure excessive temperature (HP-HT). “The in-place reserves are to the tune of 55 billion cubic meters (1.94 tcf) of gasoline.” The corporate intends to undertake a revision of the sector improvement plan that was beforehand submitted to authorities.
“Contemplating the expertise challenges related to the sector and prices concerned, ONGC wish to search technical experience to agency up a method ahead for future improvement,” the tender doc stated.
events need to submit bids by September 12, in accordance with the doc.
In response to the sector improvement plan that GSPC submitted to the Directorate Common of Hydrocarbons in 2009, DDW was to supply 200-300 million cubic toes a day. Nevertheless, the output has been a fraction of that.
(With PTI inputs)
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