ONGC to boost gas production in Tripura
ONGC has been investing a whopping Rs 1.6 billion per year against its annual earning of Rs 850 million in Tripura.india Updated: Mar 06, 2006 19:11 IST
India's premier oil and natural gas exploration firm on Monday said it would triple gas production in Tripura to meet growing demand in the north-eastern region.
"Steps are being taken to increase the daily gas production to at least 4.5 million cubic meters per day by 2008 from the existing 1.5 million cubic meters at present," said Gulab Singh, the Oil and Natural Gas Corporation (ONGC) asset general manager in Tripura.
ONGC has been investing a whopping Rs 1.6 billion ($36 million) per year against its annual earning of Rs 850 million in Tripura.
According to estimates, the state has a recoverable gas reserve of 26 billion cubic metres.
The ONGC has so far drilled 115 wells in Tripura since 1972 with 55 drilling sites yielding natural gas.
"Five to six wells were being drilled every year and the gas produced was being utilised for generation of power, domestic purposes and in brick kilns," the ONGC official said.
Construction of a 750 MW gas-based power plant is currently on at Palatana, about 60 km from Agartala.
Its foundation stone was laid last year by Prime Minister Manmohan Singh and is dubbed as the biggest ever single investment in the northeast.
The Rs 40- billion project is expected to be operational by 2008.