GSPC to submit KG basin plan in April

Kolkata: GSPC may submit the development plan for its gas find in KG basin in April.

The Directorate-General of Hydrocarbons (DGH) has approved commerciality of the find with an estimated reserve of 1.6 trillion cubic feet. The company expects the field to produce over 5 million standard cubic metres of gas a day.

As a part of the development plan, the company has almost finalised the front-end engineering and design study on the offshore platforms, sub-sea pipelines and the onshore facilities at Kakinada in Andhra Pradesh.

“We are expecting to finalise the FEED latest by March, following which we will start the tendering process,” a company officialsaid. GSPC had already floated tenders for a suitable rig, capable for development drilling.

GSPC currently deploys three jack-up and one semi-submersible rig in the exploratory asset (KG-OSN-2001/3).

The initial estimates suggest that GSPC may drill 12 development wells targeting a production of 5.6 million metric standard cubic metres a day. The cost of the project is estimated to be anywhere between $1 billion and $1.5 billion. The final estimates and project details will be available following DGH approval.