Friday, October 30, 2009

ONGC, Bihar govt sign petro exploration deal

Bihar government and Oil and Natural Gas Corporation (ONGC) today signed an agreement to carry out exploration of petroleum and natural gas in 2227 sq km area in West Champaran district.

The agreement was signed by Phool Singh, Principal Secretary, state Mines and Geology department and ONGC's General Manager (Frontier Basin), N K Verma, in the presence of Tata Petrodyne Chief Financial Officer A Guha at Soochna Bhavan here.

The state cabinet had approved Petroleum Exploration License (PEL) application of ONGC and Tata Petrodyne earlier this month.

Official sources said the exploration work of the first phase would start this year with 2D seismic survey using latest seismic data recording system and then geochemical survey using advanced technology.

"The surveys will be supplemented with gravity magnetic and Magneto-Telluric surveys in the coming years. The data generated by the surveys will be studied or interpreted on high-tech work stations with sophisticated softwares to pin point the prospective area in the block," they said.

ONGC planned to make huge investment in carrying out the exploration and subsequent drilling a well up to a depth of 3500 metres.