The consortium of ONGC and Essar Exploration & Production Ltd (Mauritius) has filed details of the discovery with the Directorate General of Hydrocarbons (DGH), adds the financial newspaper.
A consortium of Oil & Natural Gas Corporation (ONGC) and an arm of Essar Energy have struck natural gas in the Mumbai High fields, reports a business daily.
The consortium of ONGC and Essar Exploration & Production Ltd (Mauritius) has filed details of the discovery with the Directorate General of Hydrocarbons (DGH), adds the financial newspaper.
The gas discovery was made in the first exploratory well of the Block MB-OSN-2005/3 in the Mumbai Offshore Basin, which the consortium bid for as part of New Exploration Licensing Policy (NELP) VII, reports the paper.
Total hydrocarbon resources in this well is estimated to be in the 350-500 bcf (billion cubic feet) range.
ONGC has a 70 per cent participating interest in the block, while Essar holds the remaining 30 per cent with a production sharing contract (PSC) with the Government of India.
ONGC is the operator of the field, while Essar mapped the target field.
After the technical engagement with the DGH, the consortium will conduct a final appraisal of the discovery after which the reservoir will be delineated and commercialised, according to the daily.
The whole process could take a minimum of 18-24 months, it adds.
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