Work progressing as per schedule, Union Minister tells MP
The Union Petroleum Ministry has promised that the LNG receiving and re-gasification terminal here will be commissioned in the first quarter of 2012.
The mechanical completion of the project is expected in December 2011, said the Union Minister for Petroleum and Natural Gas in a written reply to Anto Antony, MP.
The work is progressing as scheduled and as of now 35 per cent of the work has been completed. The estimated cost of the project is Rs.3,600 crore approximately.
The Union Minister also told Mr. Antony that the Oil and Natural Gas Corporation (ONGC) had been engaged in exploration activities in the region of Kerala-Konkan Offshore Basin, including areas of Kochi High, since 1977.
Till now ONGC had drilled 14 exploratory wells, which included nine in shallow water and five in deep water areas.
ONGC had done a study for the entire Kerala-Konkan Offshore Basin, including Kochi High, for establishing prognosticated reserves.
As per this study, the envisaged geological resources for the entire Kerala-Konkan Offshore Basin are 660 million metric tonnes.
Exploratory efforts made in this basin to convert these resources into reserves have so far not resulted in establishment of hydrocarbon in commercial quantities.
The answer also said that under the Production Sharing Contract regime, 19 oil and gas exploration blocks had so far been awarded in Kerala-Konkan Offshore.
Of the total, 11 blocks were awarded to ONGC; seven blocks to Reliance Industries Limited; and one block to BHP Billiton Petroleum International Pty. Limited.
Till date, five exploratory wells had been drilled in these blocks awarded under the PSC regime.
Four wells were drilled by ONGC and one by Reliance Industries Limited.
Under New Exploration Licensing Policy (NELP) VIII round, 13 blocks were offered for bidding in Kerala-Konkan Offshore and deepawater area. Bids have been received for two blocks.