ONGC announces 240m barrels discovery near Mumbai

Vol 7, PW 2 (09 Apr 03) News in Brief
     

ONGC is excited about a new oil discovery at Vasai West offshore Mumbai.

On 3rd April ONGC announced a string of medium to small-sized discoveries. Most important was at Vasai West where an exploratory well encountered oil reserves, which "even by preliminary estimates" amount to 240m barrels of in-place oil "plus oil-equivalent gas." ONGC tells this report the discovery was made by the first exploratory well drilled.

"We will be drilling two appraisal wells to delineate the field," reveals a source. "We see it as a medium-sized discovery, on the scale of Ankleshwar." The drilling rig sits in about 80 metres water depth and drilled to a target depth of about 2,000 metres.

ONGC adds that it is accelerating 3D seismic over the Vasai West exploratory block.