(ET)
Oil and Natural Gas Corporation (ONGC), the country’s largest petroleum explorer, is planning to invest Rs 4,254 crore to drill 656 wells in 52 Petroleum Mining Lease (PML) in the company’s Ahmedabad asset in Gujarat.
“656 wells are planned to be drilled in various fields of Ahmedabad Asset from 2019-20 to 2025-26. The incremental Oil gain from the drilling of these development wells is 3.81 Million Tonne and incremental gas gain is 329.75 Million Standard Cubic Meter (MMSCM),” the company said in an application to the environment ministry.
The asset is among the major onshore projects for ONGC and is spread over four revenue districts, covering Kheda, Ahmedabad, Gandhinagar and Mehsana. The company has 22 oil fields across the asset with proved in-place oil of over 559 MT, of which it has already produced around 59 MT of crude oil till April 2019.
