Insta
ONGC Operationalises India's Eighth Oil Producing Basin At Asokenagar-1 Well In Bengal Basin
Swarajya Staff
Dec 22, 2020, 02:47 PM | Updated 02:47 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
The Bengal basin was dedicated to the nation yesterday (20 December) by Union Minister for Petroleum & Natural Gas Minister, Dharmendra Pradhan who exuded confidence that the discovery of oil in the basin would play a role in reducing nation's oil import dependence.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.