Monday, April 2, 2012

ONGC record production in Assam in 2011-12.

State-sector oil major ONGC today said it has surpassed the production targets for 2011-12 in Assam region. 

The company achieved production of 1.190 MMT of crude during the last financial year in its Assam assets, as against a target of 1.150 MMT as per its MoU with the government, it said in a statement. 

The MoU target of 448.0 MMSCM for natural gas has been overachieved by 107.7 per cent with the production 474.1 MMSCM of natural gas. 

"The same trend is repeated in gas sales also. The Asset has surpassed its MoU target of 240.2 MMSCM by registering sales of 250.0 MMSCM, which 103.9 per cent of the target," it said. 

The company said that Assam Asset's gas sales have improved due to certain pro-active steps during the year. 

"This feat bears testimony to the synergy among various wings of Assam Asset. In order to achieve the targets, the Asset has made certain strategic efforts since beginning of the year," the company said. 

The Drilling Services of the company achieved its full target by developing and exploration of 34 wells, as against the MoU target of 33 wells. 

"Out of the 34 wells completed, seven above 4,000 metre depth, while 12 wells are ranging in the depth of 3,500-4,000 metre," it said. 

ONGC also said that it was able to make major progress in 2011-12 as regards the pipeline network of Lakwa oil-field, one of the main producing fields of Assam Asset. 

"Asset has been able to complete 71 pipeline segments against an annual target of 10 pipeline segments within the fair weather window and that too in the challenging tea garden terrain," it said.


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