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Oil and Natural Gas Company (ONGC)

A consortium led by the Oil and Natural Gas Company (ONGC) of India is pursuing hydrocarbon leads in the shallow waters of the MB-OSN-2005/1 Block, located in the Mumbai Offshore Basin near Saurashtra, after two exploration wells hit oil and gas. A plan calls for drilling four more wells in the north and northeastern parts of the concession to assess the quantity of extractable oil and gas reserves. The second-phase exploration project is estimated to cost approximately $40 million. The operator identified the drilling locations on the basis of detailed interpretation of 3D seismic data. The wells will be drilled to a target depth of between 2600 and 3000 m in a water depth ranging from 17 to 37 m.


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