ONGC Boosts India's Energy Future With Groundbreaking Mumbai Offshore Discoveries
ONGC has announced significant oil and gas discoveries in the Mumbai Offshore basin. These finds, Suryamani and Vajramani, made under the OALP regime, promise to bolster India's domestic production. However, no production timelines were specified. Additional discoveries were made in the KG basin during the same period.
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- India
State-owned Oil and Natural Gas Corporation (ONGC) has made significant offshore oil and gas discoveries in the Mumbai Offshore basin, potentially enhancing India's production capabilities soon.
These discoveries, announced in ONGC's fourth-quarter statement, were made under India's Open Acreage Licensing Policy (OALP). The finds, named Suryamani and Vajramani in OALP-VI and OALP-III blocks respectively, are crucial for the Mumbai basin, home to India's significant oil fields.
While ONGC disclosed these promising results, including another onshore discovery in the KG basin, it offered no specific timelines or production potential details, which remains awaited by industry stakeholders.
(With inputs from agencies.)
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