ONGC Makes Hydrocarbon Discoveries in India
India's Oil and Natural Gas Corporation Limited (ONGC) reported 4 hydrocarbon discoveries in first quarter of fiscal year 2013/14 (FY13/14) ending June and an additional discovery in August.
The firm discovered gas at the KGOSN041NANL-2 exploration well in the Krishna Godavari basin off India's east coast. The well flowed gas at 2.35 million standard cubic feet per day (MMscf/d) or 0.67 million standard cubic meters per day (MMscm/d) through 0.25 inch choke tested at Object-I (interval 4,039-4,098 feet 1,231-1,249 meters).
"This is the fourth discovery in the block, after Chandrika South, Alankari and Saveri, signifying the hydrocarbon potential of the block. This discovery will further boost ONGC’s efforts to attain critical hydrocarbon volumes necessary to ensure viability of a possible cluster development for the block," the company said in a press release.
A second gas discovery made a gas discovery at the SRM-AA well in Godavari Onland Petroleum Mining License (PML) in the Krishna onshore basin earlier this month. The well was drilled to a depth of 13,307 feet (4,056 meters). "Interval 11,014-11,024 feet (3,357-3,360 meters) in Rahgavapuram shale formation on conventional testing produced gas at 2.63 MMscf/d (0.075 MMcm/d) through 0.235 inch (6 millimeter) bean," ONGC said.
ONGC also discovered gas at the GK-28-9 exploration well in the Western Offshore (Kutch) Basin when it was drilled in the eastern fault block of GK-28 structure in GK-28 PML. "On conventional testing, Object-I (interval 4,098-4,104 feet or 1,249-1,251 meters) in Nakhatrana Formation flowed gas at 7.84 MMscf/d (0.222 MMscf/d) through 0.5 inch choke. This discovery will help in reassessment of estimates in the fault block to the east of wells, GK-28-1 and GK-28-2," the company added.
The GK-42-3 well - the fourth discovery made by ONGC - in the Western Offshore (Kutch) Basin was drilled north-north east of Discovery Well GK-42-1 in the eastern fault block of the basin as an assessment well to upgrade the reserves and assess the potential of the Jakhau reservoir established through GK-42-1. Object-II (interval 4,181-4,188 feet or 1274.5-1276.5 meters) within Nakhatrana Formation yielded gas at 1.322 MMscf/d (0.225 MMscfm/d) through 0.5 inch choke. ONGC said this discovery will help reassess estimates in the fault block to the east of well B-42-1.
The final discovery was made at Gandhar-686 exploration well in the Gandhar Extension-VI ML area in the Western Onland Basin.
"On testing, Object-III (interval 8,716-8,725 feet or 2,656.5-2,659.5 meters), in GS-11 sand, flowed oil at 0.443 barrels of oil equivalent (75.24 cubic meters per day) and gas 0.227 MMscf/d (0.00643 MMscm/d) through 0.235 inch (6 millimeter) bean. This new pool discovery in the south-west of main Gandhar Field has opened up a significant area for exploration and exploitation," ONGC said.
Meanwhile, ONGC reported a 33.9 percent decline in 1Q FY13/14 to $658.6 (INR 40.16 billion) from a year ago, while sales revenue dipped 4.3 percent to $3.16 billion (IDR 192.83 billion).
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