ONGC Gears Up for Oil Production From its Flagship Project

New Delhi: ONGC is eyeing the commencement of Oil production from its flagship deepwater project KG-98/2 Development Project in December 2023. 

Gas production from the Project has already commenced in March 2020 with a plan of further ramping up by May 2024.

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Yesterday in Rajya Sabha, Minister of State for Petroleum and Natural Gas Rameswar Teli said that ONGC's KG basin project is in "Challenging geology".

In May next year, it will witness the commencement of commercial production of crude oil from deepsea project Krishna Godavari basin.

 

 

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According to ONGC's latest production data as of November 2023, the company has produced 28.57 million metric tonnes of oil (MMTOE) in the current financial year (FY24). This represents a decline of approximately 4.3% compared to the same period in the previous financial year (FY23).

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