ONGC Assam Asset registers highest ever quarterly gas sales

NAZIRA (Assam): ONGC's Assam Asset has registered the highest ever quarterly gas sales and achieved all its targets during the third quarter of the fiscal year ending December 31, 2011.

The Asset achieved the oil production target at 100.1 per cent (0.3031 MMT) against the planned figure of 0.3028 MMT on the last day of the quarter while on the gas production front it improved its earlier performance achieving a production level of 123.9 MMSCM against the planned 119.3 MMSCM during the quarter, a press release issued by the company said.

The company's Assam Asset also registered a 8 to 10 per cent enhancement in Asset Gas sales over previous quarters and also touched the highest daily Gas sales figure of 761457 LSCMD on November 22, 2011, achieving the highest ever quarterly Gas sales figure of 65.3 MMSCM since 2001-02, it said.

Asset is now eyeing on an ambitious annual target of 250 MMSCM, which will be the highest in last ten years and pursuing the matter very aggressively with government authorities including continuous interactions with consumers for further enhancement.

On the development drilling front, the third quarter achieved cent per cent by way of drilling of five wells and for the first time, the state-of-art technology "Rotary Steerable System (RSS)" was used in the wells.

On the work over front, Asset continued its remarkable show in Q3 also and over-achieved its target well in advance by working over 52 wells against a target of 45 wells, the release added.