Reserves deplete at PMT, Ravva fields - Business Standard

Two of India’s oldest oil and gas finds, Panna-Mukta-Tapti (PMT) and Ravva are facing the threat of reserve depletion.

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A consortium of British Gas (BG), Oil and Natural Gas Corporation (ONGC) and Reliance Industries (RIL), which controls the PMT fields off the west coast, is spending about Rs 2,500 crore for reviving the reserve in this fiscal, while new wells are being drilled at the Cairn-operated Ravva field (off the Andhra coast) for small-sized additional discoveries. The Tapti field has witnessed “natural decline in the production profile” during the first quarter ended June 2009. Gas production fell 26 per cent compared to the corresponding quarter last year and condensate output has dropped 34 per cent at Tapti, according to data from RIL. Panna-Mukta had first faced a decline in October-December 2008 and later enhanced production by drilling new wells, but the threat of a further decline remains, said an official with the petroleum ministry.

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