ONGC has reportedly put on hold the development of six prospective discoveries made in recent years owing to lack of infrastructure in the areas.
Discoveries like Karjan and Linch in Gujarat and, Mekrang (Assam) lie in isolated areas where no infrastructure is available. Therefore, the company has decided not to prepare a detailed development plan for six such discoveries. Moreover, ONGC has not found any customers for these discoveries.
These six discoveries are a part of 66 (26 onshore and 40 offshore) finds in various stages of exploration. Of the remaining 60, seven are under development, nine under delineation and 10 under appraisal. Another 29 discoveries are under study. There are five discoveries where the production has been linked with the requirement of customers. One is in Tripura, where the production has been linked to an upcoming power plant which is likely to become operational from 2012-13. The power plant is being jointly developed by ONGC, IL&FS and the Tripura Government.
Besides, oil from the East Coast's G-4-6 field, in the Krishna-Godavari block, is likely from 2011. The oil volume from the area, when nearby finds are developed through a common production facility is expected to provide an initial 20,000 bpd and will reach a peak of 150,000 bpd by 2016.
Source : ProjectsToday
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