ONGC has unveiled a key offshore gas discovery in the prolific Mumbai basin off the country’s west coast.
The discovery was made on block MB-OSHP-2017/1, which was awarded to ONGC as a part of India’s open acreage and licensing round (OALP).
MB-OSHP-2017/1 is an oil and gas exploration block located in the Mumbai Offshore region of India’s western offshore area. The block was awarded to a consortium of three companies – Oil and Natural Gas Corporation (ONGC), Bharat PetroResources Limited (BPRL), and Videocon Industries Limited (VIL) – in the 2017 Open Acreage Licensing Policy (OALP) bid round.
The MB-OSHP-2017/1 block covers an area of approximately 1,453 square kilometers and is located in the prolific Mumbai Offshore Basin, which is known for its significant oil and gas reserves. The block is situated in water depths ranging from 70 meters to 2,500 meters and is located near several producing oil and gas fields.
About Mumbai Basin
The Mumbai Basin is a large sedimentary basin located in the offshore region of India’s western coast, along the Arabian Sea. The basin is named after the city of Mumbai, which is situated near its southern end.
The Mumbai Basin is a significant hydrocarbon-producing region, with several major oil and gas fields located within it. These include the Bombay High field, which was discovered in 1974 and is one of the largest oil fields in India, as well as the Neelam and Heera fields, which were discovered in the 1980s. The basin also contains several smaller fields, and there is ongoing exploration and development activity in the region.
The geology of the Mumbai Basin is complex, with multiple layers of sedimentary rocks and structures that have been shaped by tectonic activity and sediment deposition over millions of years. The basin is divided into several sub-basins, each with its own unique geological characteristics and hydrocarbon potential.
The Mumbai Basin is an important contributor to India’s energy security, with the oil and gas produced from the region playing a critical role in meeting the country’s energy needs. The basin is also a key area of focus for the Indian government, which has undertaken several initiatives to encourage further exploration and development activity in the region.
ONGC (Oil and Natural Gas Corporation) is a multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company and is also among the top global energy companies.
ONGC was founded in 1956 with the goal of exploring and producing oil and gas resources in India. It is a state-owned company and operates under the Ministry of Petroleum and Natural Gas. The company has a diverse portfolio of assets, including onshore and offshore oil and gas fields, refineries, petrochemical plants, and pipelines.
In addition to its domestic operations, ONGC has a significant presence in international markets. It has exploration and production operations in several countries, including Russia, Vietnam, Iran, and Sudan. ONGC has also acquired oil and gas assets in other countries through joint ventures with other global energy companies.
ONGC is a major contributor to India’s energy security, producing around 70% of the country’s crude oil and natural gas. The company is also committed to sustainable development and has implemented several initiatives to minimize its environmental impact, including the use of renewable energy sources and the adoption of green technologies.
As of 2021, ONGC had a workforce of over 33,000 employees and reported a net profit of over $2 billion.