State-owned Oil and Natural Gas Corp (ONGC) has made a significant oil discovery to the west of its prime Mumbai High fields in the Arabian sea, a senior official said today.
The discovery in the well WO-24-3 is estimated to hold an in-place reserve of about 20 million tonnes, he said.
Mumbai High, India’s biggest oil field, currently produces 205,000 barrels of oil per day (just over 10 million tonnes per annum) and the new find would add to that production in less than two years time.
“In all, nine objects or zones were tested and all of them were found to be hydrocarbon bearing. The last object tested flowed 3,300 barrels of oil,” he said. Read More…