NEW DELHI, India – India’s ONGC has approved the integrated development of the B-127 cluster with the additional development of the B-55 field at an estimated cost of Rs 2,059.63 crore (≈$390 million) with production to begin in May 2014.
The B-127 cluster consists of three marginal fields east of Mumbai High with “significant hydrocarbon accumulations in multi-layered reservoirs within Bassein and Panna formations,” said ONGC. Hydrocarbon in place is estimated at 24.6 MM metric tons oil equivalent.
B-55 production began in 1999 and currently runs at 1.05 MMcm/d (37 MMcf/d) from nine wells. However, ONGC says, the Heera and Mahim formations have yet to be tested, and an exploration well into the Mukta formation produced gas.