India’s state-controlled Oil & Pure Gasoline Company (ONGC) has signed an settlement with French big TotalEnergies to collectively work on deep-water exploration off India’s east coast.
ONGC mentioned in a social media submit on Monday it has signed a memorandum of understanding (MoU) with TotalEnergies “to determine a holistic framework between the 2 for alternate of one another’s technical strengths in deep-water offshore, particularly Mahanadi and Andaman”.
Sushma Rawat, ONGC’s director exploration, famous the 2 firms “will collectively consider exploration and growth alternatives to create synergies with native economies”.
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The take care of TotalEnergies will result in “future cooperation for potential enterprise in deep waters of Bay of Bengal on [a] mutually aligned objective”, ONGC said.
ONGC not too long ago confirmed that it’s in talks with main worldwide gamers for potential partnerships in deep-water initiatives, off India’s east and west coasts.
Along with TotalEnergies, ONGC confirmed that it has held discussions with Norway’s Equinor and US companies big Baker Hughes for probably deep-water partnerships.
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TotalEnergies is the third worldwide big to have inked an preliminary settlement with ONGC for its deep-water belongings.
US giants Chevron and ExxonMobil have already signed related agreements with the Indian state-controlled firm.
ExxonMobil settlement
ONGC final 12 months inked an settlement with ExxonMobil to collectively work on deep-water exploration off India’s east and west coasts.
ONGC beforehand mentioned it has signed a Heads of Settlement with ExxonMobil for deep-water exploration within the nation.
“The collaboration areas deal with the Krishna Godavari and Cauvery basins within the jap offshore and the Kutch-Mumbai area within the western offshore,” the Indian firm famous.
With Chevron, ONGC final September signed an MoU for a “deeper technical collaboration”.
Cluster 2 growth
ONGC is spending $5 billion on growing the Cluster 2 area of its flagship KG-DWN-98/2 deep-water asset in India’s Krishna Godavari basin and has lined up an aggressive deep-water exploration marketing campaign off the nation’s east coast within the close to time period.
The Cluster-2 area is anticipated to provide as much as 16.6 million cubic metres per day of gasoline and 78,000 barrels per day of oil at peak.
The Indian participant additionally has plans to drill further exploration wells within the gas-rich Krishna Godavari basin, the place it’s growing the Cluster 2 asset.
Deep-water rigs
ONGC not too long ago launched a brand new offshore rig tender in a hunt for 2 high-spec, deep-water drillships for operations off India’s east coast because it steps up deep-water exploration.
The corporate goals to rent two dynamically positioned drillships on 21-month charters, Upstream earlier reported.
ONGC requires drillships able to working in water depths of as much as 3000 metres for exploration wells within the ultra-deepwater areas of the Cauvery and Andaman basins.
The Andaman basin is the much less explored of the 2 however its excessive potential means ONGC expects to drill a number of exploration wells there, Upstream understands.
The Indian firm presently operates greater than 30 offshore rigs, primarily jack-ups, one of many largest fleets within the South Asian area.
The corporate’s formidable deep-water plans are meant to assist increase its home oil and gasoline assets according to the Indian authorities’s drive to cut back the nation’s dependence on oil imports.
