Shell to help ONGC with exploration

Vol 16, PW 21 (16 May 13) News in Brief
     

Shell could soon be back in the Indian E&P sector through a joint venture with ONGC.

PETROWATCH learns Shell India chief Dr. Yasmine Hilton and ONGC chairman Sudhir Vasudeva jointly wrote to oil minister Veerappa Moily on May 5 to announce their potential alliance.

Shell is offering consultancy services to ONGC at its Mumbai High and Kutch offshore fields in the western offshore and its KG block KG-DWN-98/2 in the eastern offshore. Shell might also take a stake at KG-DWN-98/2, a block it has looked at closely in the past.

ONGC and Shell plan to carry out a study in the western offshore to jointly analyse geological formations to identify untapped areas of high prospectivity outside discovered fields. ONGC has made significant gas discoveries at KG-DWN-98/2, slated to start producing in 2016-17.

Block KG-DWN-98/2 sits next to Reliance's KG-D6 block. "We have not yet gone into the details of Shell and ONGC's proposal yet,” says a ministry source.