ONGC invests in natural gas development

ONGC will be investing Rs. 5219 crore towards Daman Development project to enhance production of natural gas and condensate in its Tapti Daman block in Arabian Sea. The investment decision has been approved by the ONGC Board.

The project is located about 90-100 Km from Daman coast and includes additional development of C-24 field and monetization of B-12 marginal fields (B-12-11, B-12-13 and B-12-15).

The production is expected by July 2016 with peak production rate of 8.35 MMSCMD of gas and 9,286 barrels of condensate per day. The cumulative production till 2034-35 is pegged at 27.67 Billion Cubic Meters (BCM) of gas and 5.01 Million Cubic Meters (MMm3) of condensate.

The gas and condensate will be evacuated to Hazira through Tapti process facilities of Tapti-JV.

The project envisages installation of seven Well Head platforms, one riser platform with associated pipelines and drilling of 28 wells. The project is scheduled for completion by pre-monsoon 2019.

1 Indian rupee = 0.016518 U.S. dollars

Press Release, September 3, 2014; Image: ONGC