ONGC KG Block

ONGC inform that the company has plans to open another well and flow gas to onshore terminal next month through the newly laid subsea gas pipeline

State-controlled Oil and Natural Gas Corporation (ONGC) will in May next year start commercial production of crude oil from its much-delayed flagship deepsea project in Krishna Godavari basin, the Rajya Sabha was informed on Monday. In a written reply to a question, Minister of State for Petroleum and Natural Gas Rameswar Teli said ONGC's KG basin project, KG-DWN-98/2, is in "challenging geology". Delays have occurred due to multiple challenges and issues in actual project implementation such as subsurface geological issues, shifting of well locations and surface facilities/processing platform, delays and disruption in project supply chain for vendors spread across multiple countries due to Covid-19 pandemic and challenging weather conditions. The KG-DWN-98/2 or KG-D5 block, which sits next to Reliance Industries' KG-D6 block in the KG basin, has a number of discoveries that have been clubbed into clusters. Located 35 kilometres off the coast of Andhra Pradesh in water depths rangin

With KG-D5 going live, oil production is estimated to rise to 24 million tonnes in 2023-24 and gas to rise to 32.16 bcm, said Anurag Sharma, director (onshore) and interim director (finance) of ONGC

The volume to be offered is the same as the one the company bid out in November last year

ONGC had in 2014 announced plans to start gas production from 2018 and oil by 2019 but a final investment decision was made contingent upon government approving a remunerative price for the block