Oil and Natural Gas Corporation Limited (ONGC) is on its way to commercialize another Basin - the Vindhyan Basin. This would be the ninth producing Basin of India; the eighth by ONGC. This comes close on the heels of the eighth Indian Basin - the Bengal Basin - dedicated to the nation on 20 December 2020.
Exploratory well Hatta#3 was drilled with the objective to establish commercial potential through detailed testing to acquire reservoir-specific data. The Well Hatta#3 is in the Son valley sector of Madhya Pradesh. On testing, the well-produced over 62,044 cubic meters/day gas, thus confirming the production potential of Proterozoic Basin for the first time in India. ONGC Director (Exploration) R K Srivastava personally supervised the testing activities at the well-site on this historic occasion on 29 March 2022.
Active exploration in the Vindhyan Basin began with the acquisition of seismic data in the late 1980s. The very first well Jabera#1, drilled in the Basin in 1991, produced gas of around 2000 cubic meters/day. Perseverance of ONGC spanned over the next 25 years, with drilling of 26 exploratory wells in the Son and Chambal valley sector of the Vindhya Basin, notwithstanding 14 of them providing sub-commercial gas flows in the Son Valley. Finally, continued efforts have now paid off - the Vindhyan Basin is close to becoming the ninth producing Basin of India. ONGC is fully geared to consolidate this development. With belief in prospectivity, it has already acquired 5 Blocks under OALP rounds on the same Play trend.
ONGC is now working out various monetization options for the gas viz. direct marketing to industries in the vicinity, Cluster-based gas production through cascade systems, CNG bottling at well-head as the gas is of high calorific value and transportation using available facility.
While congratulating the team involved in this exercise, ONGC CMD Dr Alka Mittal said, "It's a matter of great pride for ONGC as well as the oil & gas industry of the country to realize this aspiration of adding yet another Basin with production potential on India's energy map".
Shares of Oil & Natural Gas Corporation Limited was last trading in BSE at Rs. 162.25 as compared to the previous close of Rs. 171.05. The total number of shares traded during the day was 2475587 in over 24418 trades.
The stock hit an intraday high of Rs. 164.90 and intraday low of 161.35. The net turnover during the day was Rs. 404008895.00.