Financial Daily from THE HINDU group of publications
Saturday, Sep 17, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 17, 2005 |
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Corporate
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Accidents ONGC secures insurance claim for BHN platform Our Bureau
New Delhi , Sept 16 ONGC has secured its insurance claim for the Bombay High North (BHN) platform amounting to Rs 761.6 crore. ONGC lost this offshore platform in a fire on July 27. According to a company statement, United India Insurance Company has settled the full demand of ONGC quickly, as the underwriters were convinced of the case. This amount corresponds to only the BHN platform, the statement added. It also said that the insurance claim corresponding to its offshore vessel, Samudra Suraksha, is under process and is expected to be cleared soon. The production of ONGC from Mumbai High has now increased, the company said. The production has now recovered to 2,20,000 barrels of oil per day (BOPD). It had came down to 1,45,000 BOPD from 2,65,000 BOPD after the accident. Gas sales, which went down to six million metric standard cubic metres per day from 9.5 mmscmd, have recovered to 10.2 mmscmd.
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