After a huge time span of more than three decades, State-owned and managed Oil and Natural Gas Corporation (ONGC) is set to open another iconic sedimentary basin in the nation as it puts Kutch offshore on the oil and gas guide of India.
Kutch would be India’s eighth sedimentary basin. ONGC had already opened for business creation six out of India’s seven energy efficient producing basins . Cauvery was the last Category-I creating basin which was found in 1985.
ONGC has made a noteworthy petroleum gas revelation in the Gulf of Kutch off the west drift, which it intends to convey to generation in 2-3 years, senior organization authorities said.
KUTCH OFFSHORE BASIN
The disclosure in Kutch offshore may hold around 1 trillion cubic feet of gas reserves.
The spread of Kutch offshore basin covers a territory of 28,000 square kilometers in water profundity of up to 200 meters and will end up noticeably eighth producing basin of the nation.
Discussing the likelihood of including new basin for creation, ONGC Director (Exploration) AK Dwivedi stated: “The outcomes are extremely promising and I am certain this will open up numerous new open doors.”
He said a few best in class advances like broadband seismic obtaining have been utilized as a part of investigation crusade to secure more exact information from the investigation acreages.
While praising the investigation Team, ONGC Chairman and Managing Director Shashi Shanker stated: “Our concentration is to enhance the nature of pre-penetrating information using imaginative advancements keeping in mind the end goal to enhance the achievement rate.”
Investigation, he stated, is the most imperative esteem maker for any investigation and creation organization around the world.
“ONGC will investigate every possibility to enhance achievement rate from its exploratory crusades. We are attempting to upgrade cost however much as could be expected, both amid pre and post exploratory boring stages,” he included.
GOVT’S PRICING SUPPORT
In any case, soaking up most current advancements and in addition leading an altered preparing program for the geoscientists to considerably upgrade the nature of information before exploratory drilling and borings are required, he said. “This will have an enormous positive effect both in short and long run.”
Keeping in mind the end goal to go for early monetising of Kutch Offshore, ONGC is searching for valuing support from the Government of India. Since Kutch Offshore is a seriously difficult and sensitive field, its cost of generation is additionally going to be high. Henceforth, a coordinating valuing support is critical.
Authorities said the present government-ordered gas cost of $2.89 per million British warm unit does not make the disclosure monetarily reasonable. Since the find is in shallow waters, it doesn’t fit the bill to get the $6.30 per mmBtu top value set for troublesome fields.
2D AND 3D SEISMIC DATA
ONGC, they stated, has ventured up the procurement of 2D and 3D seismic information in an offer to raise creation and help slice nation’s reliance on imports to address oil issues by 10 percent by 2022.
In 2017, the organization procured around 7,000 square kilometer of 3D seismic information.
Authorities said 37 disclosures have been made in most recent two years; 17 of these are onland, 18 in shallow water and two are deep sea revelations.
Likewise, a system for monetisation of 166 new and little discoveries have been mapped at the Basin and Asset level, they included.