ONGC makes huge oil discovery off West coast of India

#peakoil ONGC makes huge oil discovery off West coast of India: ONGC on Saturday said it has made a huge oil dis...

DMMZ on Sat, 11th Aug 2012 11:47 pm ONGC on Saturday said it has made a huge oil discovery off the West coast that will help the state-owned firm raise its sagging oil output. The new discovery was made in the currently producing D1 oilfield. The find “will catapult D1 to become the third largest field in western offshore after prolific Mumbai High and Heera”, Oil and Natural Gas Corp (ONGC) said in a statement. D1, which is currently producing 12,500 barrels per day (bpd), had an approved peak output of 36,000 bpd. With the new discovery, the peak output would jump to 60,000 bpd or three million tonnes a year. “Earlier, the D1 was known to have initial oil in-place (or inplace Wow! How many days of energy relief will this new discovery give us? Let’s face it, the low hanging fruit has been picked and now we’re really going to have fork over the bucks to get at the deep st...

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