ONGC gets environmental clearance for project in Krishna-Godavari basin
State owned Oil and Natural Gas Corporation Limited (ONGC) has received environmental clearance for a project in the Krishna-Godavari (KG) basin in Andhra Pradesh.
Under this clearance, ONGC project has been allowed to drill 45 development wells and other related infrastructure will cost over 53,000 crore rupees at offshore KG-DWN-98/2 block.
- ONGC also has been asked to obtain Coastal Regulation Zone (CRZ) clearance, approval from Directorate General of Shipping (DGS) for commencement of drilling.
- It also has been asked to comply with all recommendations and conditions specified by Andhra Pradesh Coastal Zone Management Authority.
- KG-DWN-98/2 block is located within 25-80 km from nearest coast and covers an area of 7,294.6 sq km.
- Drilling in this block is expected to produce 51.33 billion cubic meters (bcm) of gas over a period of 16 years and 26.71 million cubic meters (mcm) of oil in 12 years.
- ONGC’s is going to drill 45 development wells in this block and also set up a FPSO (Floating Production Storage and Offloading) facility.
- It will also set up subsea production systems, offshore fixed platform and subsea pipelines connecting landfall point to existing onshore terminal of GAIL India Ltd.
Categories: Business, Economy & Banking