ONGC and Cairn com­mence oil pro­duc­tion in Bhagyam field

Power Watch India - - DISPATCHES -

ONGC and Cairn (Ra­jasthan JV) has com­menced pro­duc­tion from the Bhagyam field, which is the sec­ond largest of 25 dis­cov­er­ies made by Cairn in the Barmer Basin in Block RJ-ON-90/1. The com­mis­sion­ing is be­ing seen as a key mile­stone to­wards achiev­ing the tar­get pro­duc­tion rate of 175,000 bopd by end of 2011-12. The Man­gala, Bhagyam and Aish­wariya (MBA) fields have gross re­cov­er­able oil re­serves and re­sources of ap­prox­i­mately one bil­lion bar­rels. The Ra­jasthan joint ven­ture will con­trib­ute more than 20 per cent of cur­rent do­mes­tic crude pro­duc­tion when they reach the cur­rently ap­proved plateau rate of 175,000 bopd. The Bhagyam reser­voir and fa­cil­i­ties will en­tail a grad­ual and safe ramp up to reach the cur­rently ap­proved plateau rate of 40,000 bar­rels of oil per day (bopd). “Our joint ven­ture is well placed to fur­ther in­crease pro­duc­tion from Ra­jasthan. Be­gin­ning of oil pro­duc­tion from Bhagyam field is a sig­nif­i­cant step to­wards fur­ther de­vel­op­ment of the MBA fields. This un­der­lines our con­tin­ued com­mit­ment to the op­ti­mal de­vel­op­ment of the Barmer basin in Ra­jasthan and de­ter­mi­na­tion to cre­ate value for the peo­ple of Ra­jasthan as well as the coun­try,” Mr. Sudhir Vasudeva, CMD, ONGC said.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.