ONGC announces discovery in Krishna Godavari block

November 24th, 2008 - 10:20 pm ICT by IANS  

New Delhi, Nov 24 (IANS) The state-run exploration company, Oil and Natural Gas Corp(ONGC), has made another hydrocarbon discovery in an offshore Krishna-Godavari block, it said Monday.A company statement said three hydrocarbon bearing sands had been encountered between 3,757 metres to 4,185 metres. “The thickest sand interval (4,108-4,185 metres) comprises 55 metres of net oil pay,” it said.

ONGC has already made several discoveries in KG basin, including the 2006 ultra-deep discovery at 2,841 metres.

The press statement said ONGC planned a fast-track hub development programme, clustering a mix of oil and new wells around a common production facility.

The target is for production of 20,000 barrels of oil per day by 2012-13, to a peak of 150,000 barrel daily by 2016-17.

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