Thursday, July 28 2005 17:59 Hrs (IST) - World Time -

Mumbai: Oil and Natural Gas Corporation (ONGC) has set up a panel comprising former ONGC chairmen, directors and oil industry experts, to probe the cause of massive fire that destroyed the platform at Mumbai offshore yesterday (July 27, 2005).

However, no time frame has been set for the panel to submit its report, ONGC chairman Subir Raha told a media conference at Victoria Docks here, where the survivors were brought from the mishap site today (July 28, 2005).

Fourteen persons are still missing, he said adding, the rescue operations are on at the accident site.

The platform was insured for $195 million and Multipurpose Support Vessel (MSV) Samudra Surashka, which hit the platform, was insured for $60 million, Raha said.

The loss of production is estimated at 1,10,000 barrels per day and the company is working on plans to restore atleast 70 per cent of production in the next four weeks and for the rest, it would explore alternate routes, he said.

"The accident took place at 1605 hrs (IST) yesterday when the ONGC vessel approached the process platform BHN to transfer an ill person to the platform where medical facilities are available," he said.

Raha said after the medical evacuation was complete, the MSV for some reasons, which are yet to be established, apparently lost control and collided with the process platform, resulting in a fire.

This mishap resulted in serious oil leakage, engulfing the platform and MSV in major inferno, he said.

The personnel, both at platform and MSV, made efforts to control the fire and abandoned the platform and vessel when the situation went beyond their control, Raha said.

"The platform was burning till this morning. However, the oil spill has been brought under control with the help of ONGC and navy personnel," he said.

The surveyors from the insurance companies are expected to reach the city today to assess the extent of damage, Raha added.