Sign in Subscribe
Natural gas

ONGC Plans to Invest Over Rs 4,600 Crore in Konaseema District for Oil and Gas Reserve Development

Strategic Insights

— 1 min read

Oil and Natural Gas Corporation Ltd (ONGC) is set to invest heavily in the Konaseema District to develop oil and gas reserves, pending environmental clearance. As part of the Discovered Small Field-III (DSF-III) programme, the project involves drilling 10 wells and building new infrastructure in two offshore areas, Chandrika and GS49. The development is expected to create approximately 460 jobs and boost local employment, while also enhancing regional energy production. However, the project has faced delays due to the Ministry of Environment's Experts Appraisal Committee (EAC) requesting a detailed biodiversity assessment and environmental restoration plan.

Key Takeaways:

  • ONGC plans to invest over Rs 4,600 crore to develop oil and gas reserves in the Konaseema District.
  • The project involves drilling 10 wells and building new infrastructure, including two unmanned platforms, an offshore pipeline, and an onshore gas processing plant.
  • The project will use 26.3 hectares of land, with 8.7 hectares dedicated to a greenbelt, and has allocated Rs 14 crore for environmental management and Rs 3 crore annually for upkeep.
  • The Discovered Small Field-III (DSF-III) programme is a government initiative to boost oil and gas production from small fields.
  • The project is expected to create approximately 460 jobs, including 150 direct jobs and 310 indirect jobs.
  • The Ministry of Environment's Experts Appraisal Committee (EAC) has deferred clearance twice, requesting a detailed biodiversity assessment and environmental restoration plan.
  • ONGC will use 26.3 hectares of land, with 8.7 hectares dedicated to a greenbelt, for the project.
  • The project aims to enhance regional energy production while balancing environmental concerns.

Statistics:

  • ONGC plans to invest over Rs 4,600 crore in the Konaseema District.
  • The project will involve drilling 10 wells.
  • The project will use 26.3 hectares of land, with 8.7 hectares dedicated to a greenbelt.
  • The Discovered Small Field-III (DSF-III) programme aims to boost oil and gas production from small fields.
  • The project is expected to create approximately 460 jobs.
  • The Ministry of Environment's Experts Appraisal Committee (EAC) has deferred clearance twice.

Sources:

- "ONGC plans to invest over Rs 4,600 crore to develop oil and gas reserves in the Konaseema District" (Global Data Point, 2022)

- "Discovered Small Field-III (DSF-III) programme aims to boost oil and gas production from small fields" (Global Data Point, 2022)

- "ONGC to create approximately 460 jobs with the project" (Global Data Point, 2022)

Read more