ONGC Makes Discovery Offshore Mumbai
ONGC has made a major discovery west of its gigantic Bassein gas field, offshore Mumbai. Exploratory well B-22-5, west of Bassein field, flowed oil and gas at two intervals – 1,774 barrels per day of crude oil and 10,760 cubic meters per day of gas at one and 1,050 barrels per day of oil and 7,955 cubic meters per day of gas at the other. ONGC has completed its two-well exploratory campaign that has established the presence of around 48 million ton of oil and oil equivalent gas. Initial tests confirm the presence of hydrocarbon in commercial quantity in Lower Bassein formation However, the reserves are yet to be tested and a formal announcement will be made at a later date. The latest discovery, which comes close on the heels of discovery of 97 million tons of oil and oil equivalent gas in East Bassein, would supplement the decline in Bassein output expected from next year.
The Bassein field, which currently produces 32 million standard cubic meters per day of gas, would hit the decline stage next year with its production falling by as much as 3 mmscmd. ONGC would put to production its find in eastern side of the gigantic field by 2004. East of Bassein holds an estimated 3.5 trillion cubic feet of gas reserves besides in addition to crude oil. Estimated production from the field would be approximately 0.7 million tons of oil per year and 3.4 mmscmd of gas.