ONGC Operationalises India's Eighth Oil Producing Basin At Asokenagar-1 Well In Bengal Basin

In a big boost for nation's energy independence, the Government-owned Oil and Natural Gas Corporation (ONGC) has successfully commenced oil production from the Asokenagar-1 well in Bengal Basin which lies in West Bengal's 24 Paragana districts, reports Economic Times.

With this, the nation now has eight oil producing basins. The other basins include Krishna-Godavari (KG), Mumbai Offshore, Assam Shelf, Rajasthan, Cauvery, Assam-Arakan Fold Belt and Cambay basins.

It should be noted that ONGC has so far invested Rs 3,361 crore to explore hydrocarbon in the Bengal Basin, and plans to spend another Rs 425 crore in the coming two years to pursue more of exploration activities. As per ONGC, the finding of oil at Asokenagar-1 marks the end of the painstaking search for hydrocarbons in the region.

ONGC had shipped its first hydrocarbon consignment produced at the basin during the well testing phase. The shipment had been sent to Indian Oil Company Limited (IOCL)'s Haldia oil refinery on bygone 5 November.