Vadodara, Gujarat: Oil and Natural Gas Corporation Ltd. (ONGC) has completed drilling of six exploratory wells so far, out of its target of 36 for this year, a top executive said on Thursday.
"We have a target of 36 exploratory wells this year, out of which 6 wells have been completed till date," said G C Katiyar, Executive Director, Basin Manager, Western Onshore Basin.
He was speaking at a function to mark the 59th ONGC Day at its office located in Makarpura area of the city.
On the performance of the national explorer during the last fiscal, Katiyar said, "A total of 30 exploratory wells were drilled, out of which 19 wells are turned out to be hydrocarbon bearing."
"These successes resulted in accretion of in place reserve to the tune of 21 MMToE (Million Metric Tonne Oil Equivalent) and ultimate reserve to the tune of 1.36 MMToE," the executive director said.
He said that production from the entire Cambay Basin last year stood at 6.20 MMToE, of which oil is 4.82 MMT.
On the occasion, Katiyar announced a financial assistance of Rs 14,88,745 as part of the ONGC's corporate social responsibility (CSR), which will be used to purchase 41 buses for ferrying the hearing impaired children of a school, run by an NGO, in Gujarat.
