"ONGC Set to Revitalize KG Basin with Imminent Oil Production Resumption"

In a promising development for the hydrocarbon sector in India, the Krishna Godavari Basin, situated off the Andhra Pradesh coast, is poised to regain its prominence with the imminent commencement of oil production by ONGC. The public sector oil and gas giant is gearing up to initiate oil production from its flagship deep water project, KG-98/2 Development Project.

While gas production from the project began in March 2020, with plans for further escalation by May 2024, the anticipation for oil production by December faced a slight delay due to ongoing technical adjustments, according to reliable sources.

The KG-DWN-98/2 block, operated by ONGC and adjacent to the renowned KG-D6 block owned by Reliance Industries-BP, comprises three clusters of discoveries—Cluster I, II, and III. Minister of State for Petroleum & Natural Gas, Rameswar Teli, confirmed in a recent response in the Rajya Sabha that commercial production from one gas field in Cluster II had already commenced in March 2020. The production of crude oil is scheduled to follow suit by May 2024, exceeding initial expectations.

ONGC expresses confidence in commencing production ahead of schedule, marking a significant step towards the revitalization of the Krishna Godavari Basin and reaffirming India's position in the hydrocarbon industry.

HBL