ONGC said the oil production from its deep-sea project in Krishna-Godavari basin will help reverse years of decline in output.
The new oil extracted by ONGC off the coast of Andhra Pradesh. (X)
State-owned Oil and Natural Gas Corporation (ONGC), on Monday, 8 January, said that it has started oil production from its much-delayed flagship deep-sea project in the Krishna-Godavari basin in the Bay of Bengal, which will help reverse years of decline in output.
Announcing the start of production, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said that the first oil was extracted from wells 30 km off the coast of Kakinada in Andhra Pradesh.
“Work started on this in 2016-17, then there were delays on account of Covid, but I am sure that out of the 26 wells, four wells are already operational,” he said.
He added, “We will not only have gas in a very short period of time, but by May-June, we hope to be able to produce 45,000 barrels per day, which will be seven percent of our total crude oil structure and seven percent of our gas production.
बधाई भारत! #ONGCJeetegaToBharatJeetega!
As India powers ahead as the fastest growing economy under leadership of PM @NarendraModi Ji, our energy production is also set to rise from the deepest frontiers of #KrishnaGodavari
“First Oil” production commences from the complex &… pic.twitter.com/gN2iPSs0YZ
— Hardeep Singh Puri (मोदी का परिवार) (@HardeepSPuri) January 7, 2024
The “first oil” from the deep-water KG-DWN-98/2 block in Bay of Bengal has flowed on 7 January, the state-owned ONGC said in a statement.
#ONGC commenced its ‘First Oil flow to FPSO’, from Krishna Godavari Deep-Water Block 98/2 (in Bay of Bengal) on 7 January 2024, nearing completion of Phase-2 of the project. Phase-3, leading to peak Oil and Gas production, is already underway and likely to be over in June 2024.… pic.twitter.com/7Aq5CSMHp3
— Oil and Natural Gas Corporation Limited (ONGC) (@ONGC_) January 8, 2024
“This 98/2 project is likely to increase ONGC’s total oil and gas production by 11 percent and 15 percent respectively,” the ONGC said in the statement.
ONGC produced 18.4 million tonnes of crude oil and about 20 billion cubic metres per day of gas in the 2022-23 fiscal year (April 2022 to March 2023).
(With PTI inputs)
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