“Secretary, Ministry of Petroleum and Pure Fuel, Tarun Kapoor flagged off maiden manufacturing from the deep-water fuel effectively U1B on August 31,” it mentioned.
ONGC’s KG-DWN-98/2 or KG-D5 block, which sits subsequent to
‘ KG-D6 block within the KG basin, has a lot of discoveries which have been clubbed into clusters.
The discoveries within the block are divided into three clusters- Cluster-1, 2 and three. Cluster 2 is being put to manufacturing first.
The Cluster 2 discipline is split into two blocks particularly 2A and 2B, that are anticipated to provide 23.52 million metric tonne of oil and 50.70 billion cubic meters (bcm) of fuel.
Oil manufacturing is prone to begin shortly.
The agency is investing USD 5.07 billion in creating the oil and fuel discoveries within the block. It’s going to cumulatively produce round 25 million tonne of oil and 45 billion cubic meters of fuel with a peak manufacturing of 78,000 barrels per day of oil and 15 million commonplace cubic meters per day.
U1B is the deepest effectively of the Cluster.
Dedicating the fuel effectively to the nation, Kapoor congratulated Group ONGC led by its chairman Subhash Kumar.
He mentioned the in depth expertise of ONGC in exploration and manufacturing (E&P) brings confidence within the profitable operation of the deepwater fuel effectively.
Stating that there’s a lot of manufacturing potential in deep-water, he mentioned this monetisation holds particular nationwide significance as the primary precedence of the federal government is to make sure enhancement of home manufacturing and discount of oil and fuel imports.
“We stay up for manufacturing enhancement, particularly from ONGC,” he mentioned expressing hope for monetisation of many extra such wells within the close to future.
The KG-DWN 98/2 block is located offshore the Godavari river delta within the Bay of Bengal. It’s positioned 35-km off the coast of Andhra Pradesh in water depths starting from 300-3,200 meters.
Cluster 2A is estimated to include reserves of 94.26 million tonne of crude oil and 21.75 bcm of related fuel, whereas Cluster 2B is estimated to host 51.98 bcm of fuel reserves.
Cluster 2A is anticipated to provide 77,305 barrels of oil per day (bopd) and related fuel at a charge of three.81 million metric commonplace cubic meters per day (mmscmd) over 15 years.
Cluster 2B is anticipated to provide free fuel of 12.75 mmscmd from eight wells and has a 16-year life.