2016-03-29 18:25:00
ONGC APPROVES $5 BLN
The board of India's Oil & Natural Gas Corp. Ltd. approved a $5-billion offshore oil and natural gas development plan for the Krishna-Godavari basin off the country's east coast.
ONGC plans 35 wells in Clusters 2A and 2B on deepwater block KG-DWN-98/2. Twelve of the wells will be used for water injection.
First gas is expected by June 2019 and first oil by March 2020. ONGC expects a peak production rate in Cluster 2A of 77,305 b/d and 3.81 million cu m/day of associated gas through 15 producers. In Cluster 2B, peak gas production is expected to be 12.75 million cu m/day from eight wells.
The plan includes a gas processing platform with bridge-connected living quarters; a floating production, storage, and offloading vessel; about 430 km of subsea pipelines; and an onshore gas terminal.
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