Undeterred by the failed makes an attempt to strike oil and fuel within the Kerala-Konkan basin, researchers of the Oil and Natural Gas Corporation (ONGC) are planning to seek for Rare Earth Elements (REE) within the basin.
Geoscientists of the company would set sail for the offshore areas within the basin for geological subject workshops as soon as the climate turns conducive. The exploratory works, that are anticipated to start in three months, might be concluded earlier than the onset of the southwest monsoon when the climate turns tough.
The ONGC is on the lookout for the presence of uncommon metals like lithium, that are of nice industrial demand, from the 19 wells it had deserted earlier within the Kerala-Konkan basin the place the researchers had didn’t hit oil and fuel, Sushma Rawat, director (exploration) of ONGC advised The Hindu.
The Southern Granulite Terrane, the southern termination of peninsular India, which covers the States of Kerala and Tamil Nadu are more likely to be wealthy in REE. The researchers are revisiting the seismic and different knowledge that had been generated in the course of the earlier exploratory actions for traces of REE. If the outcomes flip constructive, the ONGC will re-enter the Kerala-Konkan basin in an enormous method in the course of the subsequent spherical of bidding for exploratory rights. The company has already begun such exploratory works within the Tamil Nadu-Cauvery basin three months in the past, mentioned Ms. Rawat.
The offshore space between Cape Comorin in Tamil Nadu and Kasaragod in Kerala is termed the Kerala-Konkan basin for oil exploratory actions.
The properly dug within the off-Kochi space was terminated within the Basalt/Trachyte part because the outcomes weren’t encouraging. The wells at Kollam and Kasaragod too needed to be deserted.
The public sector behemoth additionally has exploratory pursuits within the Lakshadweep seas and within the unique financial zone of the nation, which extends as much as 200 nautical miles into the ocean from the territorial waters. The company might bid for no less than 10,000 sq km of blocks within the basin in the course of the upcoming bidding spherical. The annual outlay for the exploratory programmes of the company is to the tune of ₹10,000 crore, she mentioned.