Bay of Bengal bounty: ONGC discovers two giant gas fields!

Oil and Natural Gas Corporation (ONGC) has announced the discovery of two significant natural gas reserves in the Mahanadi basin block located in the Bay of Bengal. This achievement is particularly noteworthy as the area was previously designated as a 'no-go' zone due to national security concerns.

The discoveries were made in the MN-DWHP-2018/1 block, secured by the company in 2019 through the third round of auction under the open acreage licensing policy (OALP). The initial testing of the first discovery, named Utkal, conducted at a water depth of 714 meters, revealed a substantial flow of over three lakh cubic meters per day of gas. The second find is situated at a water depth of 1,110 meters.

This recent exploration success is expected to significantly contribute to India's energy security. ONGC has duly informed the Directorate General of Hydrocarbons (DGH) and is currently undertaking assessments of pool size and commercial viability. India aims to increase the share of natural gas in its energy mix to 15 percent by 2030, up from the current 6.3 percent, aligning with efforts to reduce the carbon footprint associated with conventional fossil fuels.

In 2022, more than 98 percent of the previously restricted 'no-go' areas were opened up, allowing energy companies to deploy vessels and drillships for oil and gas exploration. As a result, ONGC's high-risk deep-water exploration endeavors are yielding positive results, marking a significant step forward in India's pursuit of energy independence.

News by Rahul Yelligetti