ONGC all set to invest `5,050-crore in Tripura

The Ministry of Petroleum & Natural Gas has announced that it will develop the North-East region as a dominant hydrocarbon hub as part of its Hydrocarbon Vision 2030, the statement said.

“In line with this vision, the Oil and Natural Gas Corporation Ltd management has put its first foot forward and approved additional investment of Rs 3,104 crore for drilling of wells and creation of surface facilities to produce 5.1 mmscmd gas from Tripura fields,” a press release issued by the Tripura Asset of Oil and Natural Gas Corporation Ltd said.

The Board meeting held at New Delhi on February 11, had taken this decision. “Earlier in 2008, the Oil and Natural Gas Corporation Ltd board had approved an investment of Rs 1,946 crore for the same and the total approved investment in Tripura will be Rs 5,050 crore,” the release said.

As a result of geological mapping and exploratory efforts, so far 11 gas fields have been discovered by Oil and Natural Gas Corporation Ltd in Tripura and seven of these fields are on production. Oil and Natural Gas Corporation Ltd Tripura Asset is carrying out its drilling activities with three owned rigs under operation and well servicing operations through two work-over rigs. 

An additional four to five hired rigs are expected to be under operation within this year which will step up the exploration activities, the statement said.