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ONGC plans to explore new oil fields

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ONGC plans to explore new oil fields

Executive Director opines many are in declining phase

Hyderabad, March 17, 2007

The Executive Director of ONGC, Aurba Saha said that the Oil and Natural Gas Corporation (ONGC) Limited plants to explore more oil fields around the existing ones in the Northeast and the Bombay High. He was speaking on the sidelines of a two day Indo-Norwegian workshop at the National Geophysical Research Institute on Saturday and said the Corporation would use new technologies for improving oil production.

He said that many of the ONGC oil fields had already crossed the maturity phase and entered the declining phase. He said in view of the exorbitant cost of drilling, new wells must be drilled more effectively thereby maximizing production.

Referring to the reservoir modeling for enhanced oil recovery, project conceived by ONGC, NGRI and the Norwegian Institute of Science and Technology, he said efforts wee on to improve the recovery from ten to twelve percent of Baloi Field that situated in a heavy oil belt of Cambay onshore.

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