ONGC puts Rs 1,285 cr in small gas fields

NEW DELHI: Oil and Natural Gas Corp (ONGC) will invest Rs 1,285 crore in developing a cluster of small gas fields located north west of the giant Mumbai High fields by 2010.

ONGC board today approved the Development of B-Cluster marginal gas fields (B-46, B-48, B-105 & B-188) at a total cost of Rs 1,285 crore with a Foreign Exchange component of Rs 1,240 crore, according to a statement.

"These fields together hold in-place gas volume of 11.298 billion cubic meters," it said.
After development, the fields will produce 1.636 million standard cubic meters per day of gas and 2,890 barrels per day of condensate. The envisaged cumulative gas and condensate production is of the order of 5.273 bcm and 1,684 million cubic meters respectively over a period of 12 years.

"As the fields are close to Mumbai High filed, the production facilities of Mumbai High North will be utilised thus minimising the development cost. The project will be completed by April 2010, to match the commissioning of MHN Complex," it said.

ONGC said redevelopment of the Mumbai High South fields has been completed 19 months ahead of schedule. The project was commenced on October 16, 2001 and was scheduled to be completed in December 2008.

"The project envisages incremental production of oil and gas with an investment of around Rs 6,500 crores. It includes installation of 10 new well platforms, laying of new pipelines and upgrading of existing facilities, besides drilling of 140 new wells," the release added.