ONGC on Thursday reported two oil and gas discoveries in the Arabian sea blocks the state-run explorer had won in auctions conducted under the OALP (open acreage licensing policy) regime.
According to the company’s director (exploration) Sushma Rawat, the discoveries were made in blocks ‘Amrit’ and ‘Moonga’ won in the first and third OALP auction rounds, respectively.
Amrit is about 100 km from the landfall point and is spread across 725 square km. Moonga is 30 km from the Mumbai coast and is spread over 4,668 sq km.
The discoveries have been notified to upstream regulator Directorate General of Hydrocarbons and their potential is being assessed, the company said.
Under OALP, companies are free to pick acreages for bidding on the basis of data analysis. A discovery, thus, indicates quality of data analysis and exploration of a company
The discoveries underpin ONGC’s commitment to unlock India’s hydrocarbons resources along with reserves accretion, the statement quoted Rawat as saying.