(TH)
The Krishna-Godavari (KG) Basin, with prognosticated resources of 9.5 billion tonnes of oil equivalent, is poised to be a major pillar for country’s energy security, said Atanu Chakraborty, Director General, Directorate General of Hydrocarbons (DGH). In a media interaction on the sidelines of a programme organised by the Petroleum Ministry in the city on Wednesday, he said 7.5 billion tonnes of oil and oil equivalent gas was yet to be discovered.
The KG Basin was one of the prolific basins in the country, he said replying to a query on its current status. Two oil majors, he added, had committed $14 billion investment in the basin, while there were several other smaller projects which were in the process of firming up Field Development Plan (FDP).The two companies’, which includes ONGC, projection of 43 million metric standard cubic metres per day is significant considering the country’s existing production, that is 80 mmscmd. The prognosticated resources, he added, has been worked out through models which are “pretty good, based on data and substantive”. What has been found out so far in the KG Basin is only the tip of the iceberg.
