ONGC to Drill 40 Oil, Gas Wells in KG Basin

ONGC is planning to drill 40 oil and gas wells in the Krishna-Godavari basin next fiscal, Press Trust of India reported citing a senior official of the company.

The drilling will be taken up in the next financial year as this year the oil and gas major has already taken up around 14 wells for drilling, the official said.

"The proposal for development drilling of 40 wells is with the Ministry of Environment and Forests for clearances. This year we have already taken up enough work (drilling of 14 wells). If the Environment Ministry asks us to go for public hearing we will go," the official told PTI.

The onshore wells are located at East Godavari, West Godavari and Krishna Districts of Andhra Pradesh. According to ONGC, there are two blocks with estimated reserves of 1,000 million metric tons of oil or oil equivalent gas in these three districts.