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Central Government/Public Sector | Bihar - India | PID: 202683
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Oil and Natural Gas Corp (ONGC) plans to drill a well in Bihar this year, to look for oil and gas. The company has acquired 3D seismic data for 300 sq. km for its block in Samastipur, Bihar and is set to drill two exploratory wells.
The first drilling will be carried out this year and may cost Rs 30 to 35 crore. This may open up the entire basin for future exploration, stretching from Bihar to Uttar Pradesh and Punjab.
Besides this, the oil and gas producer also plans to drill an exploratory well in another block in the Ganga basin in Ballia, Uttar Pradesh. As part of this, ONGC as also other firms have to directly deal with land owners to acquire land for the activity.
Data from the first well's drilling will help guide the company's plans for the rest of the exploration block, including drilling of the second well. Both blocks in Samastipur and Ballia were obtained in the fourth Open Acreage Licensing Policy (OALP) round a few years ago.
| Updated on: 29 - Mar - 2024
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