ONGC initiated three pronged strategy to enhance oil production

Ahmedabad, Oct 4 (UNI) Oil and Natural Gas Corporation (ONGC) has taken three pronged strategy to enhance the oil and gas production in the country to meet the ever increasing demand and check high crude prices prevailing across the globe.

Director (exploration) Mr D K Pande, in an interactive meet with the media today said that, the increased prices of international crude become an very important issue to our country since we had to import a large part of crude to meet our ever increasing demands.

He said that we had initiated a three pronged strategy to bring in new discoveries to the production stream on fast track basis, arresting natural decline in our old wells and optimission of surface facilities. He said that this steps enables ONGC to mitigate though partially but in the best possible way to meet the country's supply-demand gap.

Mr Pande also said that Institute of Reservoir Studies (IRS) has contributed effectively to development of new concepts and innovative techniques besides adopting state of the art technological advancements to ONGC to maximize hydrocarbon recovery at minimum cost, provide holistic reservoir description through integration of all data, Maximize the value of proven reserves with conventional and improved recovery techniques and enhance the skills and knowledge for better reservoir management.

IRS Chief, R V Marathe said that IRS is the nodal agency for formulating the development schemes of oil and gas fields of ONGC.

UNI PVN ZA NP1920