Odalarevu: Prime Minister Narendra Modi dedicated Oil and Natural Gas Corporation Limited’s U-field Onshore facilities of KG-DWN-98/2 Deep Water Block, situated in Odalarevu, Dr BR Ambedkar Konaseema district of Andhra Pradesh to the Nation on 12 November 2022.
The project was dedicated to the Nation along with the dedication, inauguration, foundation-stone laying of various other development projects worth over ₹ 10,700 crores in Visakhapatnam, Andhra Pradesh.
The event took place in the presence of the Governor of Andhra Pradesh Biswa Bhusan Harichandan, Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy, Union Minister for Railways, Communication, Electronics, and Information Technology, Ashwini Vaishnaw. ONGC CMD Rajesh Kumar Srivastava along with Director (Offshore) Mr Pankaj Kumar were also present on the occasion.
PM said Such projects will fast track India's development
The Prime Minister claimed that such projects will fast-track India’s development to the next level, and are aligned with the government’s vision of inclusive growth. “The Government of India has adopted an integrated approach for infrastructure development”.
PM Modi stated that the PM GatiShakti National Master Plan has accelerated pace of projects, with policies and decisions aimed at improving the quality of life for the countrymen. “The country is making efforts on a large scale to realise the infinite possibilities associated with Blue Economy”, PM Modi said.
The U-Field is part of ONGC’s flagship deep-water KG-DWN-98/2 Cluster-II development project in the prolific Krishna Godavari Basin. U - Field is the deepest Gas discovery of the project, with gas production potential of about 3 million Standard cubic metre of gas per day.
The first U field well monetized globally in record time of 11 months
The first well of U field, U-3-B is one of the fastest deep-water well monetized globally in record time of 11 months.
The gas from these wells is evacuated through the subsea facilities connected to an Onshore Terminal at Odalarevu situated in Dr. B R Ambedkar Konaseema district of Andhra Pradesh.
ONGC takes pride in the development of these discoveries, in line with PM’s vision of Aatmanirbhar Bharat. The subsea structures for this project are being fabricated for the first time in the country (Katupalli Yard, Chennai), a capability which proved a boon for development of domestic E&P ecosystem with extensive skill development.
U field monetization involves a CAPEX of ₹ 2917 Cr, and employment generation of ~3.4 million Man-hours. Gas produced from this project will add significant volumes to ONGC’s production and will be a giant leap towards making India a Gas-based Economy and Energy Security.
After the dedication/inauguration/foundation-stone laying of the projects, Prime Minister Modi said that these projects, along with energy reliance will boost infrastructural development, enhance connectivity and giving an impetus to ease of living in the region.
At the same time, the projects will help in significantly improving socio-economic prosperity in the region and Nation.