ONGC confirms crude oil reserves in Ballia, leases land for drilling
New Delhi: After a three-month survey in the Ganga basin, ONGC has confirmed crude oil reserves at a depth of 3,000 metres in Ballia, media reports said.
The discovery was made on land owned by the family of Chittu Pandey, a prominent freedom fighter. ONGC has secured a three-year lease for six-and-a-half acres from the Pandey family, paying an annual rent of ₹10 lakh, according to a Times Now report.
Drilling operations have commenced, requiring 25,000 litres of water daily, and are expected to conclude by April 2025.
ONGC officials stated that if the project proves successful, additional wells will be drilled at other identified locations within the 300-km crude oil belt extending from Sagarpali in Ballia to Phaphamau in Prayagraj, the report said.
Impact on local farmers and land acquisition
If the reserves are commercially viable, ONGC may purchase more land at higher rates, potentially benefiting local farmers.
Neel Pandey, a descendant of Chittu Pandey, confirmed that ONGC’s lease includes an option for a one-year extension, according to the Times Now report.
The discovery could significantly boost the region’s economy, positioning Ballia as a potential oil hub.
India’s crude oil reserves and ONGC’s Role
As of April 2021, India’s crude oil reserves were estimated at 587.335 million metric tonnes, with key deposits in the western offshore region, Assam, and Gujarat.
ONGC, established in 1956, has played a crucial role in India’s oil exploration, making major discoveries, including Mumbai High, the country’s largest oil field.
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