Oil India wells more expensive than ONGC's

Vol 5, PW 20 (21 Nov 01) News in Brief

What is the cost of per metre exploratory drilling in Assam Rs45, 819 ($974) for Oil India and Rs29, 686 ($613) for ONGC, according to figures compiled by the oil ministry.

Why is it costlier for Oil India "Increase in input cost and shifting more towards logistically difficult terrain and deeper drilling depths," we read. And what is the average cost of exploratory drilling across the country as a whole Rs30, 608 ($615) for ONGC and Rs45, 774 ($974) for Oil India.

We are also told that efforts are on to bring down Oil India's drilling costs by "application of more cost effective new technologies and increasing productivity of individuals."