ONGC submits draft field development plan for KG discoveries.

State-owned Oil and Natural Gas Corp (ONGC) has submitted to oil regulator DGH a draft field development plan (FDP) for beginning oil and gas production from its KG-basin D5 block by 2018-19.

ONGC board earlier this month approved submission of the draft FDP for one set of oil and gas discoveries made in the eastern offshore Block KG-DWN-98/2 or KG-D5, which sits next to Reliance Industries' flagging KG-D6 area.

'We are looking at producing 77,000 barrels per day of oil and 14 million standard cubic meters per day of gas from the first set of discoveries by 2018-19,' a senior company official said.

The 7,294.6 sq km deepsea KG-D5 block has been broadly categorised into Northern Discovery Area (NDA - 3,800.6 sq km) and Southern Discovery Area (SDA - 3,494 sq km).

ONGC has divided 12 oil and gas discoveries in KG-D5 and gas discovery in an adjacent G-4 block in the Bay of Bengal into three clusters to quickly bring them to production.

Cluster-1 comprises D&E discoveries as also G-4 find in the neighbouring area which ONGC estimates can produce 14.5 mmscmd of gas for 15 years.


ET