Oil & Natural Gas Corporation board sanctioned the possession of a latest stimulation vessel outfitted with high-tech technologies for Mumbai Offshore at a projected outlay of Rs.764.1crore with FE constituent of $150 million and Rs.14.18crore.
The latest stimulation vessel will boost the output of oil and gas wells by eradicating the drilling provoked damage, raising the useful well bore radius and altering the flow regime into the well bore.
Currently, well stimulation work is done by Samudra Nidhi. The latest vessel will not just enhance stimulation jobs but will slowly substitute Samudra Nidhi in a phased approach. The vessel will be acquired via LSTK agreement.
Additionally, the board has also sanctioned joint growth of clusters of a couple of western offshore areas namely B-22 cluster and B-193 cluster at a projected price of Rs.8554.26crore with FE constituent of $1697.27 million.
The venture is planned to be finished by March of 2012 and the collective hydrocarbon production from this mutual venture is projected at more than 21.5 mt of oil and oil equivalent gas over the following 15 years. Although, the gas creation will begin by the year 2011, oil production is to start by the year 2012.