ONGC Approves $5 Billion Offshore Development Plan

Source: www.gulfoilandgas.com 3/28/2016, Location: Asia

Board of Directors of ONGC have, in its 280th meeting held, approved the Field Development Plan (FDP) for the development of fields falling under Cluster 2 of the Deep-water NELP Block KG-DWN-98/2. The development would involve a Capital expenditure of USD 5,076.37 million (equivalent to INR 34,012 Crore @ 1 USD = INR 67).

Cluster 2 of the Block has been divided into two parts (i) Cluster 2A which has estimated In-place reserves of 94.26 MMt of crude oil and 21.75 BCM of Associated Gas (i.e. Solution Gas + Gas Cap Gas); and (ii) Cluster 2B which has estimated In-place reserves of Free Gas of 51.98 BCM. Production is envisaged at a peak oil rate of 77,305 bopd and 3.81 MMSCMD of associated gas through 15 producer wells along with 12 water injection wells with a peak water injection rate of 9,400 m3/d from Cluster 2A oil fields. Peak production rate of free gas is envisaged at 12.75 MMSCMD from 8 wells of Cluster-2B free gas fields. Total oil and gas production envisaged is 23.526 MMt and 50.706 BCM respectively during the project life from the Cluster 2. The peak daily production rate from the Cluster 2 works out to 16.89% and 27.60% of ONGC’s current production rate of crude oil and natural gas respectively.

Facilities envisaged as part of the project include one Gas Process Platform with a bridge connected Living Quarters platform for processing gas from Free gas wells, FPSO for Processing, Storage and evacuation of Oil/ Gas from Cluster 2A fields, about 430 Kms Sub-sea Pipelines of various sizes from 6” to 22”, about 151 Kms umbilical and 10 Manifolds, Riser base Manifolds and Onshore gas handling terminal. In addition drilling and completion of 35 wells (15 Oil Producers, 12 Water Injection and 8 Free Gas Producers) have been planned.

The project envisages first gas to be produced by June 2019, first oil by March 2020, with overall completion in June 2020.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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