After encountering several discoveries in KG Offshore in recent past (including landmark ultradeep discovery at a water depth of 2841 m in December, 2006), ONGC has now struck oil in nomination block-IG at a bathymetry of 225m in well G-4-6, 15 kms off Yanam coast. Three hydrocarbon bearing sands have been encountered in the gross interval 3757m to 4185m based on geological data, log evaluation and one mini-drill Stem test carried out on 30 September and 01 October 2008. The thickest sand interval (4108 - 4185 m) comprises 55 m of net oil pay.
In its pursuance of deeper and older plays this discovery augurs well as it marks the company's determined efforts to put the KG Offshore to new and higher levels of oil production.
ONGC plans a fast track hub development programme clustering geographically proximal encouraging finds including a mix of older finds like G-2 & GS-29 with latter finds like Padmawati, Kanakadurga and a slew of other discoveries using common production facility like an FPSO is fast nearing reality. This is expected to be on course with an initial rate of 20,000 bbl/d by 2012-13 which is expected to peak to around 150,000 bbl/d by 2016-17.
The company made this announcement during the trading hours today, 25 November 2008.
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