Team Blitz India
NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) started oil production from its much-delayed flagship $5 billion deep-sea project in Krishna Godavari basin in Bay of Bengal.
The ‘first oil’ from the deep-water KG-DWN-98/2 block in Bay of Bengal has flowed on January 7, the firm said in a statement.
Oil Minister Hardeep Singh Puri also announced the start of production in a post on X but neither he nor ONGC gave out the amount of oil being produced.
“This 98/2 project is likely to increase ONGC’s total oil and gas production by 11 per cent and 15 per cent respectively,” 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).
Puri said the production is expected to be 45,000 barrels per day and over 10 million standard cubic metres per day of gas’ from the Cluster-2 discoveries in the block. He however did not give the time lines for reaching those levels of output.
