ONGC discovers oil, gas in 2 Mumbai offshore blocks
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, it said in a statement.
The Maharatna explorer, however, did not give details of the reserves.
The discoveries named "Amrit" and "Moonga", were made in the blocks that the company won in the recent open acreage licensing rounds.
"Oil and Natural Gas Corporation Ltd (ONGC) has made discoveries of Oil and Gas in MBS171HAA-1 (MBS171HAA-A)-"AMRIT" in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea," a statement issued by ONGC said.A
"There is another remarkable discovery in MBS182HDA-1(MBS182HDA-A) named "Moonga" in OALP exploration Block in Mumbai Offshore. Detailed assessment of the discoveries is in progress," it added.
ONGC's Director (Exploration) Sushma Rawat said that with these notable findings in the OALP I and OALP III rounds, the ONGC has reaffirmed its exploration commitment to unlocking the vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security.
