NEW DELHI: Re-dedicating the iconic Sagar Samrat drilling rig, as a mobile offshore production unit to the nation, Union Minister of Petroleum and Natural Gas Hardeep S Puri said that besides operating in the deep waters now, the Oil and Natural Gas Corporation’s (ONGC) platform will also be able to explore resources which have remained untapped.
“A positive step in India’s steady journey towards energy self-sufficiency by 2047, this unit will be able to operate in deep waters and will open up new opportunities to access previously untapped reserves.” Puri said. Speaking at the event, the Minister said that the government intends to increase India’s exploration acreage to 0.5 million sq km by 2025 and 1.0 million sq km by 2030.
He also said that the government has been successful in reducing the ‘No Go’ area by 99 per cent, thereby making available an additional 1 million sq km of India’s EEZ for exploration. Several MNCs have showb keen interest to invest in the Indian E&P segment, and some are already in talks with ONGC for firming up mutually beneficial partnerships.
Dedicating the rig to the nation, the minister said that this state-of-the-art facility will handle up to 20,000 BPD of crude oil, with a maximum export gas capacity of 2.36 MCM per day & is expected to add 6000 bbls/day of oil to India’s production in the coming days. “Re-coronation of Sagar Samrat is a testament to the courage and willingness to make a difference in the face of uncertainties and the tumultuous forces of nature through re-alignment and innovation,” Puri said.
In a tweet, Puri said, “Sagar Samrat now rules the sea as a Mobile Offshore Production Unit. Joined energy soldiers of ONGC At the re-coronation of a valuable asset. Sagar Samrat Rig built in 1973 was instrumental in 14 key offshore oil & gas discoveries & drilled around 125 wells.”
Commissioned in 1973, Sagar Samrat turned the tides of India’s oil fortune by putting it on the global oil map. In 32 years, Sagar Samrat has drilled almost 125 wells and has been involved with 14 key offshore oil and gas discoveries in India.