Saturday early morning, gas flow was observed from the outermost casing annulus. Operation was stopped for safety reasons. Forty eight persons were evacuated to nearby installations.
State-owned Oil and Natural Gas Corp (ONGC) has restored "near normalcy" at its prime Mumbai High oil and gas fields after a minor gas leak from a well being drilled.
The western offshore fields of ONGC are producing at near normal rate of 310,000 barrels per day and all personnel and facilities are unharmed.
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"I think the leak has been blown out of proportion. In course of drilling operations, minor leaks happen and it all depends on how the company responds to it. We had all emergency procedure in place. There was no blowout and all non-essential personnel were safely evacuated," a top ONGC official said.
Drilling rig Sagar Uday, was operating at NS platform in Mumbai High North oil and gas field on well number NSBX for side-tracking. The depth reached is around 1,183 metres.
Yesterday, early morning, gas flow was observed from the outermost casing annulus.The Operation has been stopped for safety reasons. Forty eight persons have been evacuated to nearby installations.
"It was a minor, non-threatening leak. Operations are normal and the leakage will be plugged today. Its near normalcy at the fields," he said.
As a precaution, ONGC had shut gas injection into some of the nearby wells in the Mumbai High North fields. "In a field with close to a thousand wells, stoppage of gas injection in 3-4 wells will not lead to any significant loss of oil production," the official said.
The wells will be put to production after the leak isplugged.Five vessels, including two Multi Support Vessels (MSVs), are on the location for any immediate support. Crisis Management Team (CMT) of ONGC is on site. The preparation of plugging the leak is in progress. International expert from Boots & Coots has also been mobilised.
ONGC stock price
On July 14, 2014, Oil and Natural Gas Corporation closed at Rs 402.30, up Rs 6.35, or 1.60 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 234.40.
The company's trailing 12-month (TTM) EPS was at Rs 25.83 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 15.57. The latest book value of the company is Rs 171.29 per share. At current value, the price-to-book value of the company is 2.35.
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