ONGC 'Sagar Samrat' starts Oil and Gas production in Arabian Sea

The iconic offshore drilling Rig of ONGC 'Sagar Samrat' has been commissioned as a Mobile Offshore Production Unit (MOPU) on 23 December 2022. Sagar Samrat MOPU will handle up to 20,000 barrels per day of crude oil, with a maximum export gas capacity of 2.36 million cubic meters per day and is expected to add 6000 bbls/day of oil to ONGC's production in the coming days. The first oil from WO-16 cluster flowed into the processing system of MOPU and dispatch to onshore terminal commenced.

WO-16 is a cluster of four marginal fields in the Arabian Sea at a water depth of 75-80 m and 130 km from Mumbai which is about 40 km from the Mumbai High. Since, no nearby facility exists to produce from this field, it was planned to install a MOPU for production, processing and transportation of oil and gas from WO-16 Cluster.

The project to convert Jack-up rig Sagar Samrat into a MOPU was awarded to a Consortium of Mercator Oil & Gas Ltd, Mercator Offshore (P) Ltd and Gulf Piping Company (GPC) on 17 November 2011. After several hurdles like the legal challenges and Covid-19, the MOPU was transported to India, on a Heavy Lift Vessel and post statutory clearances, successfully installed close to the WO-16 wellhead platform on 16 April 2022.

The Sagar Samrat conversion project is one of the most complex projects executed by ONGC. The MOPU stands tall in the Arabian Sea, as a testimony, to narrate the stories of several tough decisions taken during its execution and the excellent stakeholder consultation by ONGC which eventually yielded results.

Shares of Oil & Natural Gas Corporation Limited was last trading in BSE at Rs. 150.40 as compared to the previous close of Rs. 146.80. The total number of shares traded during the day was 1125693 in over 11380 trades.

The stock hit an intraday high of Rs. 150.70 and intraday low of 147.30. The net turnover during the day was Rs. 168258847.00.

Source : Equity Bulls

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OilandNaturalGasCorporation INE213A01029 OffshoreDrillingRig ONGC SagarSamrat Commissioned