Thursday September 19, 2019
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KG basin gas fields issue hangs fire

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scalesBy NewsGram Staff Writer

New Delhi: The central government is to take a decision within six months of receiving the expert panel report on the dispute between state-run Oil and Natural Gas Corp (ONGC) and Reliance Industries (RIL) over the interconnected gas fields in the Krishna Godavari basin, the Delhi High Court directed on Thursday.

The ONGC plea asking the central government to take a decision was disposed of by Justice R.S. Endlaw while asking all the parties involved in the matter to cooperate with the independent international expert agency, DeGolyer & MacNaughton.

According to ONGC, gas discoveries in its G4 and KG-DWN-98/2 (KG-D5) blocks in the eastern offshore extend into RIL’s KG-DWN-98/3 or KG-D6 block. As a result, it had moved to the high court alleging RIL on grounds of extracting gas upto 18 billion cubic meters from its blocks resulting in loss of several thousand crores of rupees.

ONGC has further claimed that three wells drilled by RIL on the boundary of the KG-D6 block are within a few hundred meters of its gas fields, while RIL vehemently disputes this. Both companies have presented data in support of their claims.

Now, the detailed report is being prepared in this regard for the decision to be taken.

 

(With inputs from IANS)

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ONGC to Invest Rs 83,000 crore in 25 Major Projects

ONGC investing Rs 83,000 cr in 25 projects: CMD

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ONGC
ONGC to make huge investments in various upcoming projects. Wikimedia Commons

Diversified energy major ONGC is investing around Rs 83,000 crore in 25 major projects. “15 of these projects are under execution and will directly contribute to oil and gas production,” said ONGC Chairman and Managing Director (CMD) Shashi Shanker on Thursday.

Addressing ONGC employees on the 73rd Independence Day, Shanker said, “The cumulative oil & gas gain from these projects is expected to be over 180 million tonnes of oil equivalent (Mtoe) in their life-cycle.”

ONGC was looking at an encouraging production outlook for natural gas, Shanker said.
The national explorer is envisaging a gas output of over 32 billion cubic meters (BCM) by 2024.

ongc
ONGC makes some important decisions for its upcoming projects. WikiMedia Commons

Also Read: 300 Restaurants in Gurugram Observe #Logout campaign.

Shanker’s address was web cast from the company’s headquarters in Dehradun to over 30,000 employees across ONGC’s 38 work locations. (IANS)