ONGC, Inpex explore hydrocarbons in Krishna Godavari basin

ONGC, Inpex explore hydrocarbons in Krishna Godavari basin

10:10 AM, 22nd November 2012
ONGC, Inpex explore hydrocarbons in Krishna Godavari basin

NEW DELHI, INDIA: Oil & Natural Gas Corporation (ONGC) and Inpex Corporation, Japan’s largest oil company, have entered into a strategic partnership for exploration of hydrocarbons in one of the acreages in KG basin. Both companies have inked a farm-out agreement at ONGC’s corporate head-quarters in New Delhi, India.

Inpex has acquired a 26 per cent participating interest farmed-out by ONGC in the exploration block KG-DWN-2004/6, located in the deep waters of Krishna Godavari Basin in the Bay of Bengal. ONGC continues as Operator of the Block with a 34 per cent participating interest in consortium with existing partners GAIL (India) Limited (10 per cent), Gujarat State Petroleum Corporation Limited (10 per cent), Hindustan Petroleum Corporation Limited (10 per cent) and Oil India Limited (10 per cent).

The block KG-DWN-2004/6, awarded to an ONGC-led consortium under the NELP-VI licensing round, is located some 300 km off the Andhra Pradesh coast and covers an area of more than 10,000 square kilometre with a water depth of approximately 3,000 metre. Operator ONGC has completed most of the phase-I exploration programme in the block except drilling of one well which is to be taken up.

© WOC News 



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