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ONGC bullish on increasing production from offshore (Business Standard 24th Dec 2007) Where does offshore stand in ONGC's plans today?
We basically have three assets: Bombay High, Neelam Heera and Bassein satellite. Bombay High produces 12.5 million tonnes of oil per day, whereas Neelam Heera produces around 3.6 million tonnes. Bhasin satellite produces 0.5 million tonnes of oil but produces major gas -- around 29 million cubic metres.
Every five years, to increase recovery factor in production, we invest around Rs 11,000 crore to increase recovery. Bombay High South has been given Rs 6,000 crore. Bombay High North will be coming in the next two months for Rs 4,200 crore. In total, it will be Rs 10,200 crore of investments in Mumbai alone. What is the update on platform revamp?
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