ONGC earmarks $1.7B to hike production from offshore fields
Indian oil company ONGC, will invest more than over $1.7 billion (Rs. 10,600 Crore) to boost production from its oil fields, offshore western India.
The project encompasses redevelopment of its Mumbai High offshore field and also, development of Mukta, Bassei and Panna formations.
ONGC says that the implementation of the Mumbai High project will lead to incremental gain of 7.547 million tonne (MMT) crude oil and 3.864 billion cubic meter (BCM) gas by 2030. This project is designed to carry forward the success of the previous two phases of redevelopment project and give a new lease of life to the giant field, ONGC has explained
The Mumbai High project comprises of drilling 36 new wells and 34 sidetrack wells. It also covers installation of 3 well platforms, two clamp-on facilities for wells on existing platforms, associated pipelines and modifications at 18 platforms.
The facilities under the project are scheduled to be installed by April, 2017. Drilling of wells and the overall project completion is scheduled for March, 2019. The project aims to further develop L-II, S1 and Basal Clastic reservoirs along with the major L-III reservoir and integrating the required inputs.
Mukta, Bassein and Panna
As for the development of Mukta, Bassein and Panna Formations, the project located around 80-90 kilometers from Mumbai coast is designed to carry forward the success of the previous two phases of redevelopment through installation of booster compressors in year 1999 to boost delivery pressure from 55 to 105 Kg/cm2 and in 2007 to boost pressure from 25 to 60 kg/cm2, ONGC says.
In order to further enhance the field life and increase recovery, this project envisages increasing gas pressure from 10 to 27 Kg/cm2.
The incremental production is expected to start in 2014-15 with peak incremental production rate of 10 MMSCMD of gas, 950 barrels of oil and about 1100 cubic meters of condensate per day by 2017-18. The cumulative production till 2027-28 is pegged at 19.56 BCM of Gas, 1.97 million cubic meter of Condensate and 1.83 MMT of Oil. The gas and condensate will be transferred to Hazira Plant.
The project envisages drilling of 18 wells, installation of one new process platform having gas processing and compression facilities, one nine-slot Well Head Platform, topside modification on existing platforms, associated pipelines and one living quarter platform. The project is scheduled for completion by April 2017.