In a major boost to its oil exploration bid, Oil and Natural Gas Corporation (ONGC) has made a reserve accretion of 10 million metric tonnes (MMT) of oil in Assam. The area of the discovery falls in Jorhat district and two wells, one each at Sufayam and Dayalpur, have already been drilled to exploit this 10 MMT reserve.
This is one of the biggest discoveries by the state-run oil explorer in Assam after a gap of three years. The two new wells are producing around 50 tonnes of oil daily, thus taking the total daily production of the Jorhat asset from 350 tonnes to 400 tonnes.
Ved Prakash Mahawar, director of the ONGC, said that the ONGC would achieve the target of 0.96 MMT, set for the production in Assam and Jorhat in the year 2016-17. He said the ONGC would like to re-enter Nagaland and for this purpose he would, like to work out modalities with the Nagaland government on how to go ahead, whether solo or in partnership with it, before entering the state again.
In Tripura, where the ONGC is producing natural gas, the company has planned to take up its daily production from 45 lakh cubic metres (LCM) to 50 LCM and this additional output may go to the 726 MW ONGC Tripura Power Company (OTPC).
Earlier, at its 290th Board meeting held on February 23, the ONGC Board approved development of five projects with an aggregate investment of Rs.7,327 crore which will lead to the production of 14.969 MMT of oil and 2.972 BCM of gas. The ONGC has so far notified 18 discoveries in FY-17.