ONGC fire not to affect energy security: Aiyar

The centre today said the loss of Oil and Natural Gas Corporation's (ONGC) oil platform, which accounts for 15% of production of the state-run exploration giant, would not affect the energy security of the country and any shortfall would be bridged through imports.

"Yesterday I feared that loss of the BHN platform would affect the energy security of the country but ONGC has drawn up plans to restore 70% of the production within four weeks," Aiyar said while announcing a three-member inquiry committee headed by former ONGC chairman S K Manglik to probe into the incident.

Out of the 384 personnel on the platform, 10 have died, 354 have been rescued, 13 are missing and the rescue vessels are trying to extricate the six divers who were in the decompression chamber of the multipurpose utility vessel which was burnt following a collision with the platform.

He said the loss of production would be only 1/12th of the four million tonnes production from the lost platform as ONGC would find ways to augument production in a few days.

Assuring the industry that supply of hydrocarbons would not reduce, Aiyar said "The country has ample financial resources and contacts to import oil and bridge the loss in domestic production."

Aiyar said the prime minister and he himself, while flying to Mumbai, flew very low over accident site and assessed the damage.

ONGC chief Subir Raha said studies would be carried out both on surface and sub-surface for specifications and designs for erecting a new platform.