Kakinada: Oil and Natural Gas Corporation (ONGC) had begun a hunt for entrepreneurs to take its large gas finds and would be soon launching a campaign to make use of its reserves.
Though plenty of gas was available in the Krishna and Godavari Basin, there were not many takers as the price was on the higher side. Several industries depending on gas were looking at alternative sources to cut fuel cost.
According to sources, the ONGC which had found large deposits of gas off Kakinada coast, was now in a position to supply plenty of fuel to power plants, fertiliser units and several other industries.
Earlier, gas-based units in KG Basin faced a situation of want of adequate natural gas linkage. Several power and fertiliser plants could not get enough gas and failed to use the installed capacity.
But the situation had undergone a total change. Kakinada Offshore eastern asset of ONGC played a very crucial role in bringing about this transformation. ONGC was now inviting entrepreneurs to make use of the gas and set up units.
“ONGC can supply enough gas to users for their business units. We are inviting entrepreneurs to set up gas-based industries. We are also organising promotion meets to explain to industries the availability of gas,’’ said Eastern Offshore Kakinada Asset Executive Director Aloknandan.
After successfully commissioning its first deepwater project S1 Vashishta in eastern offshore in March, the yield would be about 4.3 mmscmd, he said. ONGC’s flagship project from NELP block of KG-DWN-98/2 well in the deepwater of eastern offshore was now being readied for development and would start yielding oil and gas from end of 2019.
He said that the ONGC intended to develop the NELP block KGDWN-98/2 in deepwaters off the east coast and expected to commence delivery of first gas in 2019. The corporation would produce 25.87 million metric tonnes of oil and 45.28 billion cubic metres of gas by 2034-35 from its cluster-2 fields, giving entrepreneurs sufficient gas to meet their installed capacity.
However, industrialists felt that with the availability of gas resources, ONGC and other oil and gas industries should reduce the price. At present many of the industries were making use of thermal fuel owing to availability and cost-efficiency.
Job opportunities galore in ONGC
More employment opportunities were awaiting youth in coming days as ONGC started its 98/2 new well and there were 34 wells, including those of 15 oil producers and eight free gas producers and 11 water injectors.
ONGC would be recruiting many though engineering graduates would need to get GATE rankings. ONGC Kakinada East-ern Offshore Asset Executive Direc-tor Aloknandan said local youth could also be given preference in employment. Candi-date selections could be through employment exchanges. However, all parameters would be considered and the corporate office would undertake the exercise.
