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ONGC, BP plan to step up hunt for oil, gas in India’s deep-sea next year
Public sector upstream oil giant ONGC is poised to kick off the drilling of stratigraphic wells in India’s offshore basins at the beginning of next year as part of the country’s efforts to step up the search for oil and gas to enhance energy security and cut down on imports, a senior official has confirmed.
The drilling, which will be carried out with the assistance of global oil and gas giant BP, will focus on the Andaman, Mahanadi, Saurashtra, and Bengal offshore sedimentary basins. The entire campaign will be carried out with an investment of Rs 32 billion.
ONGC had signed an agreement with BP in July this year to form a partnership that will enhance geological understanding and unlock untapped hydrocarbon potential, strengthening India’s long-term energy security.
BP’s experience in deep water exploration, supported by new seismic technologies, would be of great assistance during the well design and well location for the stratigraphic drilling. As part of the agreement, ONGC will be putting in money, while BP will provide expertise.
The stratigraphic drilling will focus on understanding the geology of the offshore basins and identifying potential hydrocarbon resources which can be taken up for oil and gas exploration in the future.
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