Oil production work has successfully begun at the Asokenagar-1 well in Bengal Basin which lies in West Bengal's 24 Paraganas district
Bengaluru: Oil production work has successfully begun at the Asokenagar-1 well in Bengal Basin which lies in West Bengal's 24 Paraganas districts.
This gives a big boost for nation's energy independence.
This also means that 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.
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Last Updated Dec 22, 2020, 5:27 PM IST