Project Profile
Value: US$617 million
Location: South-west of Mumbai, India
Expected production: 14,583 bopd
Depth: 40-50 metres
Exploration start-up:- 1979
Production start-up: - 1983
Ratna-R Series Fields are located about 130 km South-West of Mumbai and around 41 km from Heera field in the Western Offshore at an approximate water depth of 40-50 metres. Out of thirty seven (37) structures in the field, eight (8) structures were found to be oil bearing and only one R-12 (Ratna) field was under exploitation during the period 1982 to 1994. The remaining R-series structures are yet to be monetised. The Government awarded the contract for development of Ratna and R-Series fields in 1996 to a private sector consortium in a competitive bidding round. However, the contract could not be signed due to various issues. In March 2016, the Government gave the Ratna & R-Series fields to onGC for development and production.
In February 2017, onGC Board approved investment of US$617 million for development of R-Series fields including revival of R-12A (Ratna). The scheme envisages first oil production by 2018-19. The peak production rate of 14,583 bopd is expected to be achieved in 2019-20 with a cumulative production of 8.39 MMT of oil and 1.696 BCM of gas during the project life. The project comprises drilling and completion of 31 wells (22 producers and 9 water injectors), installation of 5 new well platforms including 1 riser cum well head platform with associated pipelines, revival of one platform and hiring of jack up MOPU (Mobile Offshore Production Unit) having oil and gas processing facilities. The oil and gas will be evacuated through existing Heera Process Complex. The project is scheduled to be completed by 31st May 2021.
Operators:
ONGC: 100% interest