Crude oil production during July 2016 was 1.81% lower than in July 2015

Crude oil production during July 2016 was 3077.40 TMT which is 0.39% and 1.81% lower than target and production achieved in July 2015 respectively. Cumulative crude oil production during April-July, 2016 was 12078.34 TMT which is 0.69% and 2.95% lower than target and production during corresponding period of last year respectively.

Unit-wise production details with reasons for shortfall are given below:

1.1 Crude oil production by ONGC during July, 2016 was 1867.77 TMT which is 1.66% lower than the monthly target and 0.70% less when compared with July, 2015. Cumulative crude oil production during April-July, 2016 was 7359.84 TMT which is 1.12% lower than target for the period and 1.28% lower than the production during corresponding period of last year. Reasons for shortfall in production in some fields are as under:

 

Natural decline from matured and marginal cluster fields

Maintenance of Mumbai-Uran Trunkline due to safety reasons

Assam: Less than envisaged production from new wells, producing wells becoming sick, power shutdown & less gas injection pressure.

Rajahmundry: Closure of 24 wells due to repair / replacement of Kadali-Tatipaka & Endamuru-Oduru GAIL pipelines. Decline in flowing pressure of self-flowing wells in Malleshwaram field. Increase in water cut in Gopavaram field.

Cauvery: Less than envisaged production from Kamlapuram.

1.2 Crude oil production by OIL during July, 2016 was 272.69 TMT which is 0.71% higher than monthly target and 0.89% less than production in July 2015. Cumulative crude oil production during April-July, 2016 was 1070.87 TMT which is 0.18% higher than target for the period but 3.71% lower than the production during corresponding period of last year. Reasons for shortfall in production are as under:

Less than planned contribution from old well

Rise in water cut in wells of Greater Hapjan, Bhogpara & Greater Chandmari fields

Loss in production due to bandhs and blockades by various Organisations

1.3 Crude oil production by Pvt. /JVs during July 2016 was 936.94 TMT which is 1.90% higher than the monthly target but 4.21% less when compared with July, 2015. Cumulative crude oil production during April-July, 2016 was 3647.63 TMT which is 0.06% lower than target for the period and 5.93% lower than the production during corresponding period of last year. Reasons for shortfall in production are as under:

Natural Decline in Ravva, CB-OS/2 and Panna-Mukta

Closure of one well in MA and one well in D1D3 field

Natural Gas

2. Natural gas production during July 2016 was 2704.65 MMSCM which is 2.76% lower than the target for the month but 3.27% higher than the production in July 2015. Cumulative natural gas production during April-July, 2016 was 10449.30 MMSCM which is 2.85% lower than target for the period and 3.80% lower than the production during corresponding period of last year.

Powered by Capital Market - Live News