'Rs. 1,495-cr Oil Exploration in KK Basin Went up in Smoke'.

After shelling out a whopping Rs. 1,495 cr on oil exploration projects in the Kerala-Konkan basin, the Oil and Natural Gas Corporation Ltd. (ONGC) is now reviewing the outcome of the activities which began in 1977.

Though the ONGC has not fully ruled out further exploration possibilities in the region, the company in an RTI reply said that 'the company (ONGC) will review exploration outcome during the last three decades and decide on any future ventures in the area.'

The last exploration block was relinquished in July 2014 in the region and the cost incurred for the project was around Rs. 250 cr. In the RTI reply about the results of the exploration activities, the ONGC said: 'No commercial discoveries were made from these efforts. The last well was drilled in March 2014 and no hydrocarbons were found in the well.'

'The ONGC is in the pursuit of exploration for hydrocarbons in the areas off the west coast of India for over 30 years. The company was successful in garnering five exploratory blocks under New Exploration Licensing Policy (NELP) regime, two shallow water and three deep water blocks in Cochin area. About 13,600 km of 2D and 4,700 sq km of 3D seismic data have been acquired in different campaigns in this area. Eight exploratory wells, three wells in deep water and five wells in shallow water shelf have been drilled so far in this area. The total cost incurred in drilling of those eight wells is approximately Rs. 1,495 cr,' stated the RTI reply from the Office of the Central Public Information Officer.

After 1977, three major exploration projects were carried out in the region. The last major project happened in 2009 and it was repeated on January 1, 2014.

THE NEW INDIAN EXPRESS