Oil and Natural Gas Corporation Limited (ONGC) took over the infrastructure of abandoned Tapti gas field in western offshore from its joint venture partners Reliance Industries and BG. This transfer of assets in India is first of its kind.
- With the infrastructure in place, ONGC plans to advance gas producing to the August-September period.
- ONGC plans to lay a pipeline from the Daman field to the Tapti process platform, which is connected by a 70-km pipeline to the company’s facility at Hazira.
- ONGC has committed an investment of over Rs 8,600 crore for the Daman and C-26 cluster projects. The two projects are expected to produce 11 million cubic meters of gas and 11,000 barrels of condensate per day at their peak.
- The Mid and South Tapti fields was awarded in December 1994 under the production sharing contract (PSC) regime to a consortium of ONGC, BG and Reliance.
- The consortium would continue to operate the Panna-Mukta field, which primarily produces oil, located 90-km north-west of Mumbai in the Arabian Sea. It currently produces 19,000 barrels per day of oil and 5-6 million cubic metres per day of gas.
ONGC
- Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun,Uttarakhand, India.
- It is a Public Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas.
- It is India’s largest oil and gas exploration and production company.
- It produces around 69% of India’s crude oil (equivalent to around 30% of the country’s total demand) and around 62% of its natural gas.
