Natural gas discovery in Indian Ocean

July 26, 2016

New Delhi, Jul 26: India's Oil Ministry and the US Geological Survey made the discovery of large, highly enriched accumulations of natural gas hydrate - an icy form of the fuel - in the Bay of Bengal.oil

A large natural gas discovery has been made in the Indian Ocean following a joint expedition by India and the US, opening up a new resource to meet energy needs.

India's Oil Ministry and the US Geological Survey made the discovery of large, highly enriched accumulations of natural gas hydrate - an icy form of the fuel - in the Bay of Bengal.

"This is the first discovery of its kind in the Indian Ocean that has the potential to be producible," the US agency said in a statement.

Natural gas hydrates are a naturally occurring, ice-like combination of natural gas and water found in oceans and polar regions. The amount of gas within the world's gas hydrate accumulations is estimated to greatly exceed the volume of all known conventional gas resources.

India had in September 2014 agreed to collaborate to explore gas hydrates potential in the country and identify sites for pilot production testing.

Gas hydrates are considered as vast resources of natural gas and are known to occur in marine sediments on continental shelf margins. Gas hydrate resources in India are estimated at 1,894 trillion cubic meters and these deposits occur in Western, Eastern and Andaman offshore areas.

"Advances like the Bay of Bengal discovery will help unlock the global energy resource potential of gas hydrates as well as help define the technology needed to safely produce them," said Walter Guidroz, USGS Energy Resources Program coordinator.

This discovery is the result of the most comprehensive gas hydrate field venture in the world to date, made up of scientists from India, Japan and the United States.

The discovery follows an exploration of the region from March to July of last year.

"The scientists conducted ocean drilling, conventional sediment coring, pressure coring, downhole logging and analytical activities to assess the geologic occurrence, regional context and characteristics of gas hydrate deposits in the offshore of India," the statement said.

The US agency said although it is possible to produce natural gas from gas hydrates, there are significant technical challenges, depending on the location and type of formation.

Previous studies have shown that gas hydrate at high concentrations in sand reservoirs is the type of occurrence that can be most easily produced with existing technologies.

The gas hydrate discovered are located in coarse-grained sand-rich depositional systems in the Krishna-Godavari Basin and is made up of a sand-rich, gas-hydrate-bearing fan and channel-levee gas hydrate prospects.

The next steps for research will involve production testing in these sand reservoirs to determine if natural gas production is practical and economic.

"The results from this expedition mark a critical step forward to understanding the energy resource potential of gas hydrates," said USGS Senior Scientist Tim Collett, who participated in the expedition.
The discovery of several of the largest and most concentrated gas hydrate accumulations yet found in the world will yield the geologic and engineering data needed to better understand the geologic controls on the occurrence of gas hydrate in nature and to assess the technologies needed to safely produce gas hydrates, he said.

The international team of scientists was led by state-owned Oil and Natural Gas Corporation (ONGC), in cooperation with the USGS, the Japanese Drilling Company, and the Japan Agency for Marine-Earth Science and Technology.

In addition, USGS is working closely with the National Institute of Advanced Industrial Science and Technology, Japan on the analysis of pressure core samples collected from sand reservoirs with high gas hydrate concentrations.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 6,2020

Mumbai, Mar 6: A Rolls Royce car, paintings of famous artists M F Hussain and Amrita Sher-Gil, designer handbags and other luxury items belonging to fugitive diamond jeweller Nirav Modi garnered over Rs 51 crore in the second auction conducted on Thursday.

As many as 40 items went under the hammer on Thursday, which marks the completion of auction of assets seized by the Enforcement Directorate.

The auction was conducted by Saffronart on behalf of the deputy director, Enforcement Directorate, and was expected to garner a minimum of Rs 40 crore in proceeds.

A collection of 112 prized assets of Modi were put up for live and online auctions from March 3 to 5, which included major artworks by contemporary and modern Indian artists, designer handbags, luxury watches and cars.

While the online auction on March 3-4 garnered Rs 2.04 crore against the expected proceeds of Rs 52 lakh, the live auction on Thursday garnered Rs 51.41 crore more.

These assets, seized by the ED, were put on auction in an attempt to recover a part of the dues Modi owes to various banks.

According to officials from Saffronart, the ED would get Rs 53.45 crore from the proceeds of these two auctions.

The lots that went under the hammer included legendary painter MF Hussain's painting of 'Battle of Ganga and Jamuna- Mahabharata 12' which went for a record 12 crore, the highest price received so far for the painter's work.

Amrita Sher-Gil's rare 1935 painting 'Boys with Lemons', which was auctioned for the first time, sold for Rs 15.7 crore ($2.24 million).

V S Gaitonde's tranquil 1972 painting was sold for Rs 9.52 crore while Manjit Bawa's Untitled 1992 sold for Rs 6.16 crore. Modi's Rolls Royce Ghost witnessed a high demand, selling for twice its estimate at Rs 1.68 crore ($240,000).

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 16,2020

New Delhi, Mar 16: A total of 110 cases of coronavirus, including 17 foreign nationals have been confirmed across India, Union Ministry of Health and Family Welfare said on Sunday.

The maximum positive cases have been reported from Maharashtra (32), followed by Kerala (22).

The total number of passengers screened at airports is 12,76,046, the ministry said.

The World Health Organisation (WHO) has declared that Europe has become the new 'epicentre' of the coronavirus pandemic that has infected more than 15 lakh people with over 6,000 deaths globally.

The virus had first emerged in China's Wuhan city in December last year.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.