ONGC discovers oil in Arabian Sea near Mumbai offshore

On 20^th September 2017, Oil and Natural Gas Corporation Ltd (ONGC) made a significant oil discovery near Mumbai High in the Arabian Sea, in Mumbai.
New oil well discovered in Mumbai High:
i.Oil was discovered in a well on the west of Mumbai High oil fields in the Arabian Sea.The new discovery in well WO-24-3 is estimated to have around 20 million tonnes of oil in reserve.
ii.Mumbai High is India’s biggest oil field.It produces 2,05,000 barrels of oil per day and more than 10 million tonnes of oil per year.The new oil well will contribute to increased oil production within two years.
iii.ONGC has informed about the discovery to the Directorate General of Hydrocarbons (DGH).ONGC has planned to drill assessment wells to find the size of the new well’s oil reserve.
iv.ONGC Senior Official said that nine zones were tested. All nine contained hydrocarbon. The last zone gave out 3,300 barrels of oil.
v.He also informed that in deeper zones both oil and gas were found.He said this is a mid-sized discovery but significant.
vi.This new well has been discovered almost 50 years after ONGC started its oil production in Mumbai High.
vii.This would help the company to maintain the oil production levels from Mumbai High for a longer time than previously estimated.
viii.Currently, Mumbai High along with other small fields in the western region, produces 16 million tonnes of oil per year.This is 44 % of India’s total crude oil production, which is 36 million tonnes per year.
About ONGC:
Full form – Oil and Natural Gas Corporation
Headquarters – Dehradun, Uttarakhand
Chairman & MD – D.K.Sarraf