Key Points
Oil and Natural Gas Corp (ONGC) is planning to drill a well in Bihar this year to look for oil and gas..
A commercial discovery will not just put the state on India's oil map but also open up for exploration the entire Ganga basin stretching from Bihar to Uttar Pradesh and Punjab...
Sushma Rawat, director (exploration) at ONGC, told ET that the company has acquired 3D seismic data for 300 sq km for its block in Samastipur, Bihar, and is now planning to drill two exploratory wells..
The first drilling will be done this year and may cost 30-35 crore, she said.. Data from the first well's drilling will help guide the company's plans for the rest of the exploration block, including the planned drilling of the second well.. Exploratory drilling was last undertaken in Bihar about half a century ago..
ONGC, India's largest oil and gas producer, also plans to drill an exploratory well in another block in the Ganga basin in Ballia, Uttar Pradesh, but has been facing hurdles in acquiring land...
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