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ONGC Board approves KG basin block field development

India blooms News Service | | Mar 28, 2016, at 08:29 pm

New Delhi/Mumbai, Mar 28 (IBNS) The Oil and Natural Gas Corporation Limited (ONGC) has informed that its Board, on Monday, has approved Field Development Plan (FDP) for development of Cluster 2 fields of Deep-water NELP Block KG-DWN-98/2.

KG-DWN-98/2 is part of the Krishna Godavari basin block.

The development cost has been estimated at US$ 5076.37 million (approximately Rs 34,012 crores at USD 1 = INR 67).

Cluster 2 of the Block has been divided into two parts: Cluster 2A with an estimated in-place reserve of 94.26 million metric tons (MMt) of crude oil and 21.75 billion cubic metres (BCM) of associated gas and Cluster 2B with an estimated reserve of Free Gas of 51.98 BCM.

ONGC envisages production at a peak oil rate of 77,305 barrel of oil per day (bopd) and 3.81 million metric standard cubic meter per day (MMSCMD) on associated gas through 15 producer wells along with 12 water injection wells with a peak water injection rate of 9400 m3/d from Clutser 2A oilfields.

Peak production rate of peak gas is envisaged at 12.75 MMSCMD from eight wells of Cluster 2B free gas fields.

Total oil and gas production from Cluster 2 is estimated as 23.526 MMt and 50.706 BCM, respectively.

According to ONGC, the peak daily production rate from Cluster 2 is equivalent to 16.89 per cent and 27.60 per cent of its current production rate of crude oil and natural gas, respectively.

The company expects the first gas to be produced by June 209 and first oil by March 2020 with overall completion in June 2020.

#ONGC Board approves # Oil and Natural Gas Corporation Limited

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