ONGC Discovers Oil In Two Blocks, Amrit And Moonga, On Arabian Sea
With these discoveries, ONGC continues its impressive streak in the OALP blocks by making new discoveries in consecutive years
Oil and Natural Gas Corporation Limited (ONGC) has made discoveries of oil and gas in ‘AMRIT’ in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea, according to a release by the company. Another discovery, named Moonga, in OALP exploration Block in Mumbai Offshore was located.
A detailed assessment of the discoveries is in progress, ONGC said. With these discoveries, ONGC continues its impressive streak in the OALP blocks by making new discoveries in consecutive years.
Sushma Rawat, ONGC director (exploration), said that with these notable findings in the OALP I and OALP III rounds, ONGC reaffirms its exploration commitment to unlocking the vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security.
The discovery represents a momentous achievement, underscoring exploration dedication to expanding domestic production and reducing India's reliance on imported oil and gas.
ONGC’s relentless pursuit of exploring untapped regions yielded these finds. By diligently analysing geological data and employing advanced technologies, ONGC successfully identified substantial oil and gas reserves, reaffirming the untapped potential within the OALP blocks.
In addition to the significant discoveries made in the OALP I and OALP III rounds, ONGC has promptly notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas (MOP&NG) about these findings.
ONGC's proactive approach in notifying the DGH and the MOP&NG reflects the company's commitment to operating within the regulatory framework. This collaborative approach fosters a robust partnership between ONGC and the regulatory authorities, facilitating the efficient and responsible development of India's hydrocarbon resources.
ONGC's discoveries in both the OALP I and OALP III rounds carry significant importance towards energy security by bolstering domestic production. The reduced dependence on imported oil and gas enhances the country's resilience to global market fluctuations, ensuring a stable and secure energy supply.
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