Oil and Natural Gas Corporation (ONGC) will revamp its ageing infrastructure at oilfields across the country. The country's largest oil and gas production company will shell out around Rs 15,000 crore for this purpose.
The revamping will start with its assets in Assam. The company will soon float tenders worth Rs 2,500 crore, a senior company executive said. ONGC has three fields in Assam - Rudrasagar, Lakwa and Geleki. The Rudrasagar field is almost 40 years old.
"Replacing the equipment has become paramount as they are decades old. There are frequent leaks in pipelines from producing wells which lead to shutdowns," said the executive.
The crude oil and gas processing plant attached to the Lakwa field is also old. The unit trips if it is run for over five minutes. "Some gas that we can recover is thus lost," the executive added.
Once Assam Renewal Project is completed in three years, ONGC plans to increase oil production from these fields by 20 per cent.
The company produces around 26 million per year of crude oil from its fields in the country with around 1.1 million tonne per year of oil from its three fields in Assam. Earlier, production from Assam was 1.5 million tonne per year
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