Oil and Natural Gas Corp. (ONGC) drilled 503 wells during the 2017-18 period, its highest total for 27 years.
Among the 503 wells, 119 exploratory and 384 development wells were drilled. Of the 119 exploratory wells drilled, eight were on deep-water fields and 45 in shallow-water fields, both above the original targets.
ONGC also implemented its new ‘Company within Company’ concept at Mumbai High (MH) offshore western India to improve operational efficiency in offshore drilling.
“The plan has already paid rich dividends as the MH Asset achieved highest-ever cycle and commercial speeds,” an ONGC official said.
This year, the company plans to drill 535 wells, of which 24 will be deep-water development wells as part of the Cluster-2 development of the KG-DWN-98/2 project offshore eastern India.