-1.35 (-0.56%) State-owned Oil and Natural Gas Corporation (ONGC) has received environment clearance (EC) for its Rs 580 crore project to drill seven exploratory wells in Kutch Saurashtra offshore block GK-OSN-2009/2 on west coast of Gujarat. The company has received the same from Ministry of Environment & Forests (MoEF) after recommendation by the Expert Appraisal Committee (EAC).
The company will drill five exploratory wells initially, and in case hydrocarbon is discovered, it will drill two more exploratory wells. All the proposed drilling will be carried out at locations beyond 5 km from the coastal line. The project is located in Kutch offshore area having an area of 1,242 sq km.
Recently, the company drilled the deepest well in search for oil and gas in the Krishna Godavari (KG) basin, thereby surpassing its own earlier world record set in January 2013 for drilling a well in optimum water depth.