21-06-2017 05:00 AM | Lathika Saju | My Indian Dream
The Oil and Natural Gas Corporation (ONGC) has managed a global feat by restoring the 28 year old Bassein gas field, in the Arabian Sea to its past glory and is anticipating record output in 2018
The oil production of ONGC is set to take a leap as its old natural oilfield, the Bassein field in the Arabian Sea has been revived successfully and is functioning efficiently.
The production of the field started declining post-2011, the year in which it had recorded peak production of 29 million cubic meters per day (mcmd) due to natural factors. In December 2013, under the guidance of executive director Sanjay Kumar Moitra, the ONGC team launched a programme to revive Bassein and its satellite fields.
Production rose by almost a quarter to 30 mcmd after three years of extensive efforts to rejuvenate the field. According to company executives, the production is expected to reach a record 37 mcmd by December 2018.
This means that the oil production has increased from 1 million tonne to 2.5 million tonnes, making it ONGC's second-highest oil producing asset. Projects worth Rs 13,181 crore to exploit C-26, Daman, Bassein and Vasai East discoveries have been floated that will further increase the output.
The Bassein gas field is located 80km off the Mumbai coast. It was discovered in 1976 and production started in 1988. Currently, it is ONGC's fastest-growing asset, spread over 7,300 sq km. Of the 393 billion cubic metres of initial gas in place, 248 bcm (about 7 trillion cubic feet) has been produced.
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