ONGC spuds first well in Palar Basin
ONGC opened up yet another chapter in the history of exploration when the first well in Palar Basin was spudded by Mr Narendra K Verma, Director (Exploration) in a location some 55 km from Chennai city on May 25, 2014. The Basin is sandwiched between two major prolific basins of the South – KG in the north and Cauvery in the South.
ONGC won the block PR-ONN-2005/1 spread over around 1800 sq km jointly with Tata Petrodyne Ltd (20% stake) in the seventh round of NELP bidding. It was granted an extension in the drilling of two wells under the Minimum Work Programme (MWP). The second well planned is around 7 km from the current site and will be drilled well within the time frame stipulated in the MWP.