ONGC has reportedly begun the ultra deep oil exploration off the Kochi coast in Kerala on 2 August 2009. The company aims to get the early results of the drilling operation by November 2009.

The company intends to carry out exploration activities to a depth of 6,500 mtrs. In Phase I, drilling operations are likely to be carried out to a depth of 2,080 mtrs and this process is expected to be completed within a month. In case, the company finds oil, it is likely to take six-seven years before it could be tapped commercially.

The drilling operation is estimated to cost Rs 400 crore at an average expense of Rs 4 crore a day. The materials and other logistic support for the exploration are expected to come from the Kakinada refinery.

Besides, ONGC has identified one more location in the region for ultra deep exploration and the project for the second one is likely to be taken up after assessing the outcome of the present exploration.

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ONGC puts development of six discoveries on the backburner (27-Jul-09)