Rajahmundry, Nov 12: The public sector oil and natural gas corporation (ONGC) will adopt a two-pronged strategy to increase the production of indigenous crude oil and natural gas by pumping more from the existing oil basins through implementation of various methods and drilling in the deep waters of the sea.ONGC chairman and managing director, BC Bora said the re-development scheme for Mumbai high off-shore fields, costing between Rs 5000 to Rs 6000 crores, would be taken up by the middle of next year to yield about 16 million tonnes of crude per annum over the next 15 years.
The first phase of the scheme would be completed within 30 months from the date of commencement. Similarly, work on the 15 oil fields on the western off-shore and Gujarat onshore would be taken up under the improved oil recovery and enhanced oil recovery schemes, together to yield 10 million tons over the next five years, he added.
On the deepwaters drilling, 16 blocks had been identified and seismic survey would be completed by 2001, he said adding that drilling had already commenced in three of the six blocks allotted to ONGC.
Stating that ongc was gearing up to prepare the right technology to be adopted and had approached the government for approval and necessary financial commitment.
(UNI)
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