Financial Daily from THE HINDU group of publications
Sunday, Feb 29, 2004
Financial Daily from THE HINDU group of publications Sunday, Feb 29, 2004 |
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Corporate
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Announcements ONGC's Seven Seas starts KG basin drilling Our Bureau
Hyderabad , Feb. 28 CLOSE on the heels of the announcement of new finds in the Krishna-Godavari (KG) basin, Oil and Natural Gas Corporation (ONGC) has pressed into operation its latest ultra deep drill ship-Discoverer Seven Seas to strengthen its exploration work. The drill ship has been contracted from TransOcean Sedco Forex and has a capacity to operate in deep-waters up to 1800 metres. This is the first location taken up by Discoverer Seven Seas. The drill ship is a dynamically positioned vessel equipped with a complete range of services on board, according to an ONGC release from Rajahmundry. Under the `Sagar Samriddhi' project, the ultra-deepwater drilling Rig Discoverer Seven Seas began drilling on Friday in the east coast 60 km off Visakhapatnam. Mr N. Lal, Director (T&FS) along with Dr A.K. Mitra, GGM & Ex-Director, IDT, and other senior executives from ONGC activated the top drive. The drill operations are concentrated in the proposed well christened as `KDAE', which has a target depth of 3,700 metres. The well is to be drilled as a Directional Well in `L' profile with a kick-off at 2,070 metres to achieve a horizontal drift of 790 metres. It has a target depth of 3,700 metres in the direction of 56.8 degrees. The ONGC had stepped up operations in the KG basin, which it said was in for some `exciting' prospects. Under its overall exploration work, it has contracted three ships to drill in different prospective regions. As part of the Sagar Samriddhi campaign, the corporation took up the first well on November 30, 2003 about 70 km off Porbandar in Western offshore. The well has a target depth of 1,892 metres in the Gulf of Kutch.
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