ONGC Enters Contract with Ventures Worth INR 6,000 crore to Increase Oil and Gas Production
The oil and gas sector is one of India's eight essential industries, and it has a significant impact on how other critical sectors of the economy make decisions. Because India's economic growth is strongly linked to its energy demand, the demand for oil and gas is expected to increase, making the industry attractive for investment.
As it doubles down on efforts to raise productivity from mature and ageing fields, the state-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects worth INR 6,000 crore to add 7.5 million tonnes of oil and 1 billion cubic metres of gas production over the life of the Mumbai High fields.
Being a part of the Mumbai High South Redevelopment Phase-IV, the company spent Rs 3,740.00 crore on a state-of-the-art 8-legged water injection-cum-living quarter platform. According to a statement, INR 2,292.46 crore was spent on the Cluster-8 marginal field development project at Mumbai High.
The two projects will produce an additional 7.5 million tonnes of oil and more than 1 billion cubic metres of gas. On April 23, Oil Minister Hardeep Singh Puri dedicated the two big projects at Western offshore to the nation. Chairman Alka Mittal, Director (T&FS) O P Singh, and Director (Offshore) Pankaj Kumar accompanied him.
The minister thanked the ONGC team for their efforts in completing the two projects. As per the statement, he urged ONGC to intensify its efforts to bring additional oil and gas to the coffers of nations by implementing expedited exploratory activities.
The state-of-the-art 8-legged water Injection cum Living Quarter platform was erected as part of the Mumbai High South Redevelopment Phase IV's deployment of the low salinity waterflood (LSWF) method, an Enhanced Oil Recovery (EOR) pilot project, with a total cost of INR 3,740 crores.
3.20 million tonnes of oil and 0.571 billion cubic metres of gas would be gained due to the project. This is India's first offshore EOR project. The idea is to use a desalination plant to reduce the salinity of the injected seawater, which is around 28000 ppm, to 8250 ppm.
LSWF works by enhancing microscopic and macroscopic displacement efficiency through complicated Crude Oil-Brine-Rock (COBR) interactions. The project was implemented with a strategic focus on local procurement worth Rs 1,700 crore, keeping with the government's Make in India initiative. 42 large pump packages have been manufactured in India out of 45 major pump packages in the project. The structure contains 40,000 tonnes of structural steel, enough to build five Eiffel Towers.
The Energy Recovery Unit will conserve energy and reduce CO2 emissions by 8314 MT per year, lowering the carbon footprint. The Mumbai High Cluster 8 Marginal Field Development project was completed at INR 2,292.46 crore. 4.38 million tonnes of oil and 0.464 billion cubic metres of gas will be produced due to the project.
In 2017-2018 and 2018-2019, these marginal fields were discovered. The statement stated that a CO2 mitigation system was introduced offshore as part of the project, and FPSO (Floating Production Storage and Offtake) was used to evacuate the oil and gas.