New Delhi: State-run Oil and Natural Gas Corp (ONGC) has discovered natural gas reserves in Krishna-Godavari basin off the Andhra coast, Minister of State for Petroleum and Natural Gas Dinsha Patel said on 6 March.
“Exploratory efforts by ONGC have led to the discovery of gas in the ultra-deep waters of KG-DWN-98/2 block in KG offshore,” he said.
He, however, said the quantum of gas has not been ascertained so far. “Commercial production (will) depend on commerciality of discovery,” Patel said.
ONGC has, however, stated that it has found 2.09 to 6.73 trillion cu. ft (tcf) of initial in-place volumes in northern structure and 2.61 to 8.03 Tcf in the southern structure identified through the UD-1 well in Block KG-DWN-98/2. The total inplace volumes for both the culminations have been estimated between 2.09-14.76 tcf. The firm holds 90% interest in the block while the remaining 10% is with Cairn India.
Patel also said ONGC accounted for 75.8% of country’s crude-oil production in 2005-06. In 2006-07, ONGC’s share is likely to be 77.7% of the country’s total production.