ONGC Deen Dayal West field natural gas reserve pegged at 1 trillion Cubic feet

India: A finding by Ryder Scott Petroleum Consultants, a Houston-based reservoir evaluation firm, hired by ONGC to certify the hydrocarbons present and recoverable in the KG-OSN-2001/3 block claims that the Deen Dayal West field contains natural gas reserves of about 1 trillion cubic feet. ONGC has invested around USD1.00 billion for the operation of Deen Dayal West field which is not easy to recover as the field is available in extremely high temperature & pressure condition. Ryder Scott has projected a gas recovery rate of 19% against ONGC’s previous estimate of 24%.

TechSci Research depicts that Oilfield Services provides an effective solution for oil recovery.  Oilfield Services involve a wide range of services that facilitate oil and gas exploration and production (E&P). These services are provided to smoothen the drilling process, thereby eliminating the waste produced during drilling and enhancing the oil recovery process by providing repair and maintenance of bore wells. In India, Gujarat, Rajasthan, and Assam account for maximum demand for oilfield services due to large scale oil and gas exploration and production activities being undertaken in these states.

According to released report of TechSci Research “India Oilfield Services Market Forecast and Opportunities, 2020”, the country’s oilfield services market is projected to surpass USD 7.8 billion by 2020, on account of anticipated increase in oil and gas E&P activities. Onshore oilfield services segment holds majority share in India’s oilfield services market; however, the offshore oilfield services is forecast to exhibit higher growth during 2015- 2020.