ONGC to pump in $1 bn in eastern offshore oil finds - Business Standard

ONGC is planning integrated cluster development of oil discoveries in shallow water blocks G-4-6, GS-29, G-4-5 and discoveries in deep-sea block KG-DWN-98/2, he told reporters.  "First oil is expected sometime in mid-2010," he said.  ONGC will follow the same model employed by Reliance Industries for producing oil from in the neighbouring predominantly gas rich KG-DWN-98/3 or KG-D6 block.

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The block sits next to Reliance Industries prolific KG-DWN-98/3 or D6 block.      The reserve estimates and production plan in ONGC's appraisal programme, however, excludes ultra-deepwater UD-1 discovery in KG-DWN-98/2 block.      The UD-1 discovery alone has been certified by DGH to hold just over 2 Trillion cubic feet of inplace gas reserves. Ten discoveries in KG-DWN-98/2 (excluding UD-1) and three in adjacent block together hold 6.37 Tcf of inplace reserves.

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