ONGC may bid for exploratory rights in Kerala-Konkan basin

The Oil and Natural Gas Corporation (ONGC) is considering the possibility of submitting a bid for exploratory rights in the Kerala-Konkan basin, contingent upon the results of a comprehensive re-analysis of geochemical and geoscience data gathered from the region in previous expeditions. This development was disclosed by Sushma Rawat, Director (Exploration) at ONGC.

The corporation is poised to potentially participate in the ninth round of the bidding process, administered under the New Exploration Licensing Policy, should the re-analyzed data prove promising. Ms. Rawat shared this information with the media on the sidelines of the Biennial International Conference of the Society of Petroleum Geophysicists.

Highlighting previous attempts to locate gas and oil reserves in the Kerala-Konkan basin, Rawat acknowledged that these efforts had not yielded the desired outcomes.

A total of 19 exploratory wells had been drilled in the basin during earlier endeavors. The seismic data derived from these operations, as well as data from the seabed, will be subjected to further analysis to determine whether the region holds the potential for fresh discoveries. Thus far, the pursuit of oil and gas reserves in this area has remained elusive.

Once ONGC secures the bid for the Kerala-Konkan basin, the drilling operations could commence within a timeframe of approximately three years. In addition to this, ONGC is preparing to initiate drilling exercises in the Gulf of Mannar and Kanyakumari region, according to Rawat.

It's worth noting that Oil India Limited, another prominent public sector company, had previously secured exploratory rights in the Off-Kollam area.

The 14th Biennial International Conference and Expo organized by the Society of Petroleum Geophysicists (SPG) is currently underway from November 3 to 5. The conference's core focus is addressing the intricate challenges of balancing Energy Affordability, Energy Reliability, and Environmental Sustainability, often referred to as the 'Energy Trilemma.' This year's conference, SPG 2023, has convened to explore the pivotal theme, "New Age Geosciences: A Fulcrum for Energy Trilemma."

HBL