ONGC to invest Rs 2,150 crores

Oil and Natural Gas Corporation Ltd proposes to drill 53 exploratory wells in Andhra Pradesh- 50 in the Godavari on-Land PML (Petroleum Mining Lease) Block of KG Basin and three in CD-ONHP-2020/1 (OALP-Vi) Block Of Cuddapah basin with an investment outlay of Rs 2,150 crore.

In a recent meeting, Andhra Pradesh State-Level Environment Impact Assessment Authority (SEIAA) cleared two separate proposals put up by the ONGC for environmental clearance.

According to ONGC, it proposes to carry out the onshore exploration of 50 wells during 2021-’28 in the Godavari on-land PML block of the KG basin in East and West Godavari Districts of AP based on geological and geophysical studies.

These wells will be converted to development wells and connected to the nearest Early Production System (EPS)/ Gas Collecting Station (GCS) if proven commercially viable, it further said.

ONGC mentioned a figure of around Rs 2,000 crore (approximately Rs 40 crore for each well), in the case of KG basin exploratory wells.

ONGC proposes to carry out the prospecting and exploration drilling in the CD-ONHP-2020/1 block of the Cuddapah basin falling in Kurnool, Anantapur, and YSR Kadapa districts of AP, it said in another proposal adding based on the geological and geophysical studies the three exploratory locations are planned to be drilled during the period 2021-24.
The estimated project cost for the three wells would be Rs 150 crore and it would take three to five months for exploratory drilling at each well site, ONGC said.

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