ONGC Starts Oil Production From Delayed $5 Billion Deep-Water Project

Oil and Natural Gas Corporation (ONGC) commenced its ‘first oil production’ from the deep-water KG-DWN 98/2 Block in the Krishna Godavari (KG) basin off the Bay of Bengal on the Kakinada coast on January 7.

The block is approximately 25 km from the coastline. The peak production of the 98/2 field is expected to be around 45,000 barrels of oil per day and over 10 Million Metric Standard Cubic Metres per Day (MMSCMD) of gas.

Executive Director and Asset Manager (ONGC-Kakinada) Ratnesh Kumar has said; “The 98/2 block is likely to help increase the ONGC’s total oil production by 11% and natural gas production by 15%.”