New Delhi, Nov 25: State-run Oil and Natural Gas Corp (ONGC), on Tuesday, Nov 25 said, it has made another hydrocarbon discovery in an offshore Krishna-Godavari(KG) block.
Three hydrocarbon bearing sands had been encountered between 3,757 meters to 4,185 meters, it said in a statement ''The thickest sand interval (4,108-4,185 meters) comprises 55 meters of net oil pay, it added. ONGC has already made several discoveries in KG basin, including the 2006 ultra-deep discovery at 2,841 meters. The company has planned a fast-track hub development program, clustering a mix of oil and new wells around a common production facility.
The target is for production of 20,000 barrels of oil per day by 2012-13, to a peak of 150,000 barrel daily by 2016-17.