ONGC starts drilling in Palar basin in Tamil Nadu

The Oil and Natural Gas Corporation (ONGC) has begun drilling its first-ever well in the Palar basin at Chinnapuliyur village near Gummidipoondi, about 55 km from Chennai.
ONGC had already started exploration in six out of seven sedimentary basins in India. The Palar basin was the seventh.
The Palar basin, spanned over an area of 1,800 sq.km., lies between the two petroleum-bearing Krishna-Godavari and Cauvery basins. The ONGC hopes to discover significant columns of hydrocarbons in the basin.
The block called PR-ONN-2005/1, where Chinnapuliyur is located, was a joint venture with the ONGC and Tata Petrodyne Limited (TPL). TPL holds 20% stake in the joint venture.

Month: Current Affairs - May, 2014