ONGC announces significant discovery in Krishna Godavari Offshore
After encountering several discoveries in Krishna Godavari (KG) Offshore in recent past (including landmark ultradeep discovery at a water depth of 2841metres in December, 2006), ONGC has now struck oil in nomination Block- IG at a water depth of 225metres in well G-4-6, 15 kms off Yanam coast, Andhra Pradesh. Three hydrocarbon bearing sands have been encountered in the gross interval 3757m to 4185m based on geological data, log evaluation and one mini-Drill Stem Test carried out on September 30th and October 1st, 2008. The thickest sand interval (4108 – 4185 m) comprises 55 metres of net oil pay.
In its pursuance of deeper and older plays, this discovery augurs well as it marks the ONGC’s determined efforts to put the KG Offshore to new and higher levels of oil production. ONGC plans a fast-track Hub development programme, clustering geographically proximal encouraging finds including a mix of older finds like G-2 & GS-29 with latter finds like Padmawati, Kanakadurga, and a slew of other discoveries using a common production facility like an FPSO. This is expected to be on course with an initial rate of 20,000 bbl/day by 2012-13 which is expected to peak to around 150,000 bbl/day by 2016-17.
