State-owned Oil and Natural Gas Corporation aims to start the drilling operations in its Andaman wells by May, the company’s director-exploration Sushma Rawat told FE.
The country’s largest oil exploration and production company had won two blocks in the Andaman basins in the sixth round of bidding under the open acreage licencing programme.
The identified blocks in the Andaman are expected to contain large reserves of hydrocarbons and the company is confident of boosting its domestic production of oil and gas.
Additionally, the company is also looking for potential collaborations across globe for the development of its rigs and exploration of ultra-deep water basins such as Andaman itself.
ONGC is engaging with numerous technology partners, including Schlumberger and Halliburton, to explore a tie up primarily focusing on offshore rig development owing to the escalating costs.
“Our major experience is on drilling part. We are very comfortable on drilling. We are looking for a reputed partner for technology sharing,” the company’s Director Technical & Field Services, Om Prakash Singh had earlier said.
ONGC commenced oil production from its much delayed Krishna Godavari basin last month which is expected to increase the company’s overall oil production by 11%.
Moreover, the country’s second leading oil exploration and production company, Oil India has also conveyed that it aims to commence the drilling operations in its Andaman block by September of the upcoming financial year.
“By September we plan to deploy the rig. It may happen in August but we plan to do it around Aug-Sep period. That’s the period during which drilling rig will be mobilised,” the company’s Chairman and Managing Director Ranjit Rath told FE.
“We have identified three prospects and those locations will be drilled,” he said.
Exploration activities in the Andaman have been on a halt awaiting clearances from space agencies, Coast Guard, and DRDO among others. However, the government recently opened up acreages in the area in order to increase domestic oil and gas production.