Major milestone for energy exploration: ONGC strikes gas 43 km off Odisha coast
India's state-run Oil and Natural Gas Corp (ONGC) has discovered a new gas reserve in the Mahanadi Basin off the coast of Odisha. The company is now moving into the appraisal phase to determine the commercial viability of the site.
Why it matters
This discovery represents a significant milestone for India's energy security and offshore exploration efforts, potentially reducing reliance on energy imports.
In a big breakthrough, Oil and Natural Gas Corp (ONGC) has discovered gas in a deepwater well off India's eastern coast. The find is located close enough to Odisha and may potentially enable quicker development if further appraisal establishes that it is commercially viable, the state-run explorer said on Monday.The discovery also comes at a time when ONGC is increasing its focus on frontier offshore acreage. Deepwater discoveries can require substantial investment in appraisal and infrastructure before they can progress to commercial production.For the Mahanadi Basin discovery, ONGC's next phase of work will involve additional reservoir appraisal, evaluation of recoverable resources and a commercial assessment.
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