NISHITH.TV
  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York

Locations

  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York
  • Content
  • Home
  • ABOUT US
  • NDA in the Media
  • Areas of Service
  • Research and Articles
  • Opportunities
  • Contact
  • NDACloud
  • Client Access
  • Member Access
  • Events and Calender
  • How we perform
  • Knowledge anywhere, anytime
  • See our recent deals
  • Up to date legal developments
  • Case studies in M&A

Research and Articles

HTMLPDF

  • Research at NDA
  • Research Papers
  • Research Articles
  • Policy Papers
  • NDA Think Tanks
  • NDA Hotline
  • New Ali Gunjan
  • Japan Desk ジャパンデスク

NDA-Hotline


  • Capital Markets Hotline
  • Companies Act Series
  • Climate Change Related Legal Issues
  • Competition Law Hotline
  • Corpsec Hotline
  • Court Corner
  • Cross Examination
  • Deal Destination
  • Debt Funding in India Series
  • Dispute Resolution Hotline
  • Education Sector Hotline
  • FEMA Hotline
  • Financial Service Update
  • Food & Beverages Hotline
  • Funds Hotline
  • Gaming Law Wrap
  • GIFT City Express
  • Green Hotline
  • HR Law Hotline
  • iCe Hotline
  • Insolvency and Bankruptcy Hotline
  • International Trade Hotlines
  • Investment Funds: Monthly Digest
  • IP Hotline
  • IP Lab
  • Legal Update
  • Lit Corner
  • M&A Disputes Series
  • M&A Hotline
  • M&A Interactive
  • Media Hotline
  • New Publication
  • Other Hotline
  • Pharma & Healthcare Update
  • Private Client Wrap
  • Private Debt Hotline
  • Private Equity Corner
  • Real Estate Update
  • Realty Check
  • Regulatory Digest
  • Regulatory Hotline
  • Renewable Corner
  • SEZ Hotline
  • Social Sector Hotline
  • Tax Hotline
  • Technology & Tax Series
  • Technology Law Analysis
  • Telecom Hotline
  • The Startups Series
  • White Collar and Investigations Practice
  • Yes, Governance Matters.
  • Japan Desk ジャパンデスク

Real Estate Update

July 29, 2005

Disaster At Bombay High

A major fire broke out on Bombay High North ("BHN") one of the Oil and Natural Gas Corporation's ("ONGC") offshore oil-drilling platforms at Bombay High, on Wednesday, July 27, 2005. Bombay High, India's largest offshore oil field discovered in the Gulf of Cambay in 1965, produces 14 per cent of India's oil requirements and accounts for 38 per cent of all domestic production amounting to approximately 260,000 barrels of oil every day.

The disaster occurred when ONGC's multi-purpose vessel Samudra Suraksha (the "MPV") lost control while engaging in a medical evacuation operation. The MPV collided with BHN and instantly damaged the oil and gas lines setting off an inferno. The MPV and BHN were consumed by the conflagration in less than two hours. As of the time of this update, up to 14 personnel are feared dead even as search and rescue operations are underway.

The resultant oil spill from BHN has extended to 10 nautical miles in the easterly direction towards Mumbai. The oil spill, aggravated by rough seas caused by unprecedented torrential rains in the region, is in danger of spreading fast. Measures to neutralize the spill are presently in progress.

BHN is insured for a sum of $ 195 million and the MPV is insured for $60 million. A detailed damage assessment has estimated that restoring a new platform in place of BHN would cost about $ 300 million. The Government of India has set up a three-member committee headed by former ONGC Chairman, S.K. Manglik, to probe the cause of the fire. According to the Government, the aforementioned committee would be assisted in its investigation by Royal Dutch Shell.

The immediate impact of the disaster is the loss of crude oil production of 110, 000 barrels per day. According to the Union Minister for Petroleum, Mani Shankar Aiyar, 70% of the production loss due to the disaster should be restored within the next four weeks.

 

- Roshan Thomas & Vikram K Raj

 
 

Source: The Hindu, dated July 29, 2005

The Deccan Herald, dated July 29, 2005

Mission and Vision


Distinctly Different

What's New


Dissecting The Insolvency Code - Empowering Investors by Extinguishing Antecedent Liabilities
Insolvency and Bankruptcy Hotline: September 26,2023
NDA Represents Veritone, Inc. In Its Acquisition of Broadbean from CareerBuilder, LLC
Deal Corner : September 26,2023

Events


Webinars

Impact of The New Indian Data Law on Multinational Companies Operating in India
August 22,2023 - August 22,2023

This event is over. For event material please click here


Seminar

GST solutions for Online Gaming Industry
September 13,2023 - September 13,2023

This event is over. For event material please click here


Round Table

Investing In Net Zero
July 22,2022 - July 22,2022

This event is over. For event material please click here

News Roundup


News Articles

Reciprocity requirement for enforcement: A roadblock in ease of doing business?
August 24,2023

Quotes

English, Welsh lawyers have no intention of taking court work away from Indian lawyers: UK Law Society President
September 23,2023

Newsletters


Insolvency and Bankruptcy Hotline

Dissecting The Insolvency Code - Empowering Investors by Extinguishing Antecedent Liabilities
September 26,2023

IP Hotline

Delhi High Court: Mere Use of Trademarks as Keyword not Infringement Per Se
September 25,2023

Technology Law Analysis

Implications of the New Data Protection Law on M&E industry
September 23,2023

  • Disclaimer
  • Content
  • Feedback
  • Walkthrough
  • Subscribe
Nishith Desai Associates@2016 All rights reserved.