ONGC starts oil evacuation from Panna field via sub-sea pipeline, saving $43,000/day
1 min read 22 Jun 2023, 07:45 PM ISTPanna field, which is part of ONGC’s Bassein & Satellite (B&S) asset of western offshore, produces 9,600 barrels of oil per day
PremiumNew Delhi: Oil and Natural Gas Corporation Ltd (ONGC) on Thursday announced that it has successfully linked Panna oilfield in the Arabian Sea to shore through a sub-sea pipeline, helping save $43,000 a day in cost that was previously incurred in transporting crude oil through ships, the company said in a press release.
Panna field, which is part of ONGC’s Bassein & Satellite (B&S) asset of western offshore, produces 9,600 barrels of oil per day.
“With the successful linkage of Panna Process Platform with subsea pipeline, a part of ONGC’s Bassein & Satellite (B&S) Asset. ONGC has achieved a significant cost reduction of approximately USD 43,000 per day by connecting the platform with subsea pipeline," it said.
Additionally, the submarine pipeline connection minimizes the production downtime associated with tanker changeovers and eliminates demurrage charges during adverse weather conditions, it added.
These combined savings and improved operational agility position ONGC for long-term success in the offshore oil and gas sector.
The Panna segment includes laying of 2 segments of 37.50 kms of submarine pipeline and installation of 3 Main Oil Line Pumps (MOL) and 3 booster pumps.
The Panna-Mukta oilfield consists of two adjacent offshore oil fields north-west of Mumbai.
“This remarkable feat is a triumph for ONGC and underscores its commitment to technological advancement and ushering in operational excellence in the oil and gas industry to raise output and further secure India’s energy interest," the company said in a release.