Niko Resources Ltd NKRSF

RE:Article: ONGC to conduct ....................

[Bigwhiskey]

 

 Directorate General of Hydrocarbons (DGH) he has a hate on for RIL 

 

 

 

ONGC proposes to develop the KG discoveries in three clusters - combining finds D and E in KG-D5 block with discovery in neighbouring G-4 block as Cluster-I. All other finds except ultra deepsea UD-1 discovery are to be developed as Cluster-II. The UD-1 find will be developed as Cluster-III. While DGH is agreeable to DoC for the Cluster-II finds, it has not approved the same for discoveries D, E and UD-1 in absence of surface flow data and Drill Stem Test (DST) data.

 

 Officials said ONGC has now begun conducting DST on D and E finds. UD-1 discovery alone holds 2.836 trillion cubic feet of inplace gas reserves. Discoveries D and E hold 587.6 billion cubic feet of inplace reserves. For Cluster-II, DGH has approved 1.42 Tcf of gas reserves and 140.891 million barrels of oil that would require a capex of USD 6 billion to develop, they said.

 

 Cluster-1 would need about USD 2 billion more. Previously, DGH had refused to recognise D-29, 30 and 31 gas finds Reliance Industries' KG-D6 block as well as those in NEC-25 block in absence of a DST. RIL issue is yet to be resolved.