ONGC Announces Western Onshore Basin Oil Drilling Results
ONGC or Oil and Natural Gas Corporation has announced the results of oil drilling in Western Onshore Basin. This oil company has obtained permission to drill from the NELP. A press release from the company said the exploratory well, Vadatal-1 in block CB-ONN-2004/2, drilled to a depth of 1784 metres, was found to be oil bearing.
The release also said that the ONGC Board of Directors had approved an investment of Rs 372.11 crore for development of BHE ad BH-35 area, east of Mumbai High South Field. “On conventional testing the interval flowed oil @37 m3/d through 6 mm bean (278 bbls/day) This discovery pertains to a NELP-VI Block (earlier relinquished part of GSPCL acreage CB-ON/2) in the Tarapur area of the Western Onshore Basin,” the release said.
The release said that, after studying various options, ONGC decided on suitably locating a well platform with minimum facilities between BHE and BH-35 fields and drilling directional wells to produce oil and gas from the two fields and evacuate the oil and gas to the SH Complex which is located only 10 kms from BHE.
Various optimization studies, coupled with improved price realisation for oil as well as gas, have ensured a healthy IRR of 1.4: 5.4 for the project, the release added. BHE was first discovered in 1976 and was again taken up for delineation in 1983 but was not deemed economically viable at the then prevailing prices of oil and gas. Based on integrated study of recently acquired Q-Marine Data, it is estimated that the cumulative production of oil and gas from BHE and BH-35 is 0.422 million metric tonnes and 0.529 billion cubic metres, respectively, over a period of eight years, with peak production rates of 2500 barrels per day of oil and 2,50,000 cubic metres of gas.
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Key: BHE oil, bhe oil and gas, BHE and BH-35 fields ongc, Tarapur gas oil onshore 2p reserve, onshore drilling, ongc onshore wells, ONGC onshore
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