ONGC on Sunday launched an exploratory drilling mission in one of its first deep water wells in the Kerala-Konkan basin.
The 100-day mission in search of hydrocarbons is one of the deepest and costliest exploratory drilling done by the public sector company. Projected depth of the well, named KK4C-A, is more than 6,500 metres, of which 2,080 metres is the depth of the ocean, RS Sharma, chairman and managing director of ONGC told reporters here on Sunday after spudding the well , 70 nautical miles away from here.
Exploratory drilling in the shallow waters of the Kerala-Konkan basin has so far been disappointing for ONGC, engaged in survey and exploration of the basin since 1977. Other companies engaged in oil exploration in the region have also failed to find any reserves off the coast. ONGC has so far dug nine shallow water wells in the basin.
It is in this context that the first deep-water exploration acquires significance for ONGC and the region. Geological modeling of the deep-water region suggests hydrocarbon reserves in the tertiary sediments, ONGC sources said.
?Globally 58% of the hydrocarbon discoveries have come from the region of Mesozoic sediments,? DK Pande, exploration director of ONGC said. The 100-day activity will cost the public sector company Rs 400 crore, he added. Indications of hydrocarbon reserves in the well would throw open commercial exploration around 55 square km of drilling.