Kochi (Kerala), Aug 2(ANI): Oil and Natural Gas Corporation Limited (ONGC) on Sunday started a major oil exploration drill off Kochi coast, which could give a major boost to Kerala's industrial prospects.
The top officials visited the site with the help of helicopters, where ONGC Chairman and Managing Director, R S Sharma, formally launched the drill with a traditional coconut-cracking ceremony.
Addressing media on the occasion Sharma said that it would take 101 days to get a complete picture of the oil prospects in the area.
"I am happy that my initial observation appraisal, assessment has been quite satisfactory. It will take 101 days to complete," he said.
Sharma further informed that initial reports suggests that oil could be found at a depth of 4,500 meters.
"This is the first well we are drilling in the ultra deep waters. The water depth of this location is 2,080 meters and the target depth, the further drilling, the sub-surface shall be another about 4,500 meters," said Sharma.
According to scientists, the geological samples obtained under the sea matched seismic and geo-chemical studies and the chemical study results stand positive for further drilling.
Most of the preliminary exploratory drilling confirmed the presence of hydro-carbon, carbohydrate and other chemicals.
Experts say it is a major leap for oil and gas exploration in the country as the basin might be an abundant source of oil and natural gas.
Once the basin starts crude oil production, it could provide a big boost to the energy-starved Kerala. (ANI)