After discovering gas in the southern part of the South Bassein field, Oil and Natural Gas Corporation (ONGC) decided to undertake redevelopment programme at a cost of Rs 3,513 crore in the area.
Under this programme, the firm would set up a new platform, drilling new wells, subsea systems etc. The additional gas will come on stream in the next 2-3 years time after the wells are drilled.
The firm expects to extend the life of the field, which has been producing gas since 1988, to 2030 through this new capital expenditure.
Gas production of ONGC could remain stable despite an expected decline in output from the field, because of the new discovery.
Helped by the new discovery, ONGC may maintain or slightly increase the current production levels of 25 million standard cubic meters per day (mscmd), media reports indicate.
The South Bassein gas field, located off the Mumbai coast, was discovered by the firm in 1976 and has been the mainstay of its gas output for decades.
The field currently produces 45 percent of the companyÂ’s gas output. In other words out of the 55 mscmd of gas the company currently produces, Bassein contributes around 25 mscmd.
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