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ONGC on exploration drive for 726 MW gas-based thermal power project

11 Jun 2011 Evaluate

ONGC has introduced a massive exploration drive for gas extraction in Tripura to meet the requirement of 726 MW gas-based thermal power project at Palatana in South Tripura, despite heavy rains and communication bottlenecks. The project is scheduled to start power generation by December 2012.

By 2012 the company expects to produce six million metric standard cubic feet per day (mmscfd) of gas by 2012, to meet the requirements of the project. The company has also decided to drill two more gas well within the stipulated time. The initially estimated project cost of nearly Rs 8,000 crore has already gone up to Rs 9,000 crore because of the delay.

Recently, State-owned Oil and Natural Gas Corp's (ONGC) Bassein gas field off the Mumbai coast has achieved record production of 200 billion cubic meters (bcm). Bassein gas field, which was discovered in 1976 and put into production in September 1988, is now being counted among the world's super giant fields.

ONGC Share Price

265.45 -2.15 (-0.80%)
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Company Name CMP
ONGC 265.45
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Jindal Drilling&Inds 631.10
Deep Industries 518.40
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