ONGC to set up its own power plants

ONGC plans to set up its own power plants, not just gas-based but also facilities based on nuclear, wind and other conventional energy sources, the government-owned exploration company Chairman and Managing Director Sudhir Vasudeva said on March 28. He was speaking after inaugurating the monetisation and production operations from the first onshore marginal gas fields in KG basin at Ponnamanda village in East Godavari district of Andhra Pradesh.

The fields are to be operated by KEI-RSOS Petroleum & Energy (KRPEL), a private entity. Vasudeva said that the company’s focus has been on fields with large gas potential. However, the recent increase in the gas prices has made the company to relook at such marginal fields through the public private partnership, Vasudeva said.

He said ONGC has allocated 2 per cent of its profits towards Corporate Social Responsibility (CSR) projects.
PK Rao, Manager of the PSU’s KG Asset, said the commencement of gas production and monetisation of the three depleted marginal fields near here — Sirikattapalli, Mullkipalli and Megatapalli — has proven that ONGC’s marginal fields policy has been a success.