Billion dollar bonanza at Bombay High

Vol 5, PW 8 (06 Jun 01) Exploration & Production
     

Later this month oil minister Ram Naik is scheduled to inaugurate the long-awaited re-development of the Bombay High (South) with a ceremonial "well spudding" at the EE Platform.

Naik's action will herald the start of a five-year bonanza for contractors working with ONGC! An internal feasibility report puts the aggregate value of contracts during the redevelopment programme at a staggering Rs5,255.97cr ($1.118bn). Of this "the foreign exchange component" is a massive $966m.

Over the next five years ONGC plans to implement the programme for a completion date of "post-monsoon 2006." Its all in a good cause: ONGC reckons the Bombay High (South) redevelopment will result "in additional production of 35.95m (262m barrels) of oil and 9.63 billion cubic metres of gas by 2029-30". By then "the recovery factor is expected to be 31.5% of initial oil in place of 990m tonnes." Bombay High covers approximately 1,875- sq km and is India's most prolific oilfield.

It is divided into two blocks - north and south. "A zone of relatively low permeability in LIII reservoir acts as a barrier between these two blocks facilitating independent exploitation of the Mumbai High (North) and (South) fields." A Rs2,929cr ($623m) re-development programme of the Bombay High (North) is already underway.

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