Friday, 13 December 2019

ONGC To Take Over Tapti Gas Field Facilities

Updated: May 9, 2015 2:38 pm

Oil and Natural Gas Corp has agreed to take over a part of the abandoned assets of the western offshore Tapti gas field from its joint venture partners Reliance Industries and BG once output falls to zero.With Tapti output declining rapidly, partners in the Panna-Mukta and Tapti fields, RIL, BG and ONGC, have decided to abandon the field. “Tapti abandonment (has) achieved resolution with Government of India,” RIL said a presentation to analysts after the company’s fourth-quarter results. Gas output from the field has almost halved to 14.2 billion cubic feet (bcf) in 2014-15 while oil production was 0.2 million barrels, down 22 per cent from previous fiscal.

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