ONGC plans offshore supply base, onshore terminal

July 31st, 2008 - 10:56 pm ICT by IANS  


New Delhi, July 31 (IANS) India’s flagship upstream company Oil and Natural Gas Corp has announced plans to build an integrated offshore supply base and an onshore terminal in the east coast to process oil and gas from Krishna-Godavari basin. The company said in a release that the offshore supply base was expected to boost exploration and production efforts on the east coast at Kona in Andhra Pradesh.

Besides, ONGC has plans for an onshore terminal near Kona to be built in an area of 2,500 acres. This will be processing gas from deepwater fields of Vashista and S-1, as well from GS-29, G-4, Annapurna, Kanakadurga in the next phase.

ONGC, which struck oil and gas in its offshore exploration programme in the Krishna-Godavari basin, has an “aggressive drilling plan” for the next five years, it added.

ONGC officials, led by its director (offshore), recently met the commerce and industry secretary and the chairman of Andhra Pradesh Industrial Investment Corp for allotment of 500 acres for the supply base. “Senior Andhra government officials have assured full support in priority allotment of the required land,” said the statement.

This supply base will have warehouses, captive jetty for offshore vessels, heli-base, laboratories and a communication centre. An international consultant has been appointed to complete the development of the supply base.

The total investment for developing all offshore fields and onshore terminals would be $3 billion.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe