Nation Current Affairs 06 Jul 2019 Nagayalankya holds 2 ...

Nagayalankya holds 2.33MT oil reserves

DECCAN CHRONICLE. | SNV SUDHIR
Published Jul 6, 2019, 2:22 am IST
Updated Jul 6, 2019, 2:22 am IST
ONGC’s exploration pays off.
ONGC carried out exploration activity in Nagayalanka for more than six years before taking up drilling.
 ONGC carried out exploration activity in Nagayalanka for more than six years before taking up drilling.

Vijayawada: It’s now revealed that the estimated ultimate recovery (EUR) at Nagayalanka block of the Krishna –Godavari (KG) basin is 2.33 million metric tonnes of oil equivalent (MMtoe).

The Oil and Natural Gas Corporation Limited (ONGC) commenced production from this block in May 2018. Until May 2019, the ONGC could drill 0.0139 MMT of oil and 5.53 MMSCM of gas. The ONGC commenced its drilling initially in Nagayalanka in three wells and this will be expanded to 29 wells subsequently.

 

The Nagayalanka block is planned to be developed in a phase-wise manner through drilling of 31 wells. Of these 31 wells, 30 are horizontal and one is a vertical well. The officials have also planned three to four shallow wells for disposal of effluents.

The cost of drilling including rig hiring, daily drilling rates, consumables, well accessories, hydraulic fracturing, land acquisition with respect to drilling of 31 wells is envisaged to be Rs 6,792 crore, and the total project cost comes to Rs 6,804 crore.

ONGC carried out exploration activity in Nagayalanka for more than six years before taking up drilling.

As per ONGC plans, purified condensate/oil will be transported by road through tankers to the unloading station of the ONGC at S- Yanam for further transportation to M/s HPCL, Visakhapatnam. Gas will be compressed and its evacuation done by a marketing tie-up.

It was in March 2015 that the Ministry of Environment and Forests and Climate Change issued the terms of reference to the ONGC, permitting it to set up 31 wells in Krishna district. The three wells are in Nangegedda and Bhavadevarapalli in the mandal.

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