ONGC starts oil production in Krishna-Godavari basin

News Excerpt: 

The Oil and Natural Gas Corporation (ONGC) has initiated crude oil production from its substantial deep-sea project in the KG-DWN-98/2 block of the Krishna-Godavari (KG) basin.

Reasons behind the delay of this project:

  • Subsurface geological issues, 
  • Challenging weather and geological conditions, 
  • Changes in well locations and surface facilities, and 
  • Global supply chain issues due to the COVID-19 pandemic.

Location of this project:

  • The offshore KG-DWN-98/2 block is located next to the prolific KG-D6 block of Reliance Industries in the Krishna-Godavari (KG) basin in the Bay of Bengal on the Kakinada Coast.
  • It is around 35 km from the coast of Andhra Pradesh in water depths of 300-3,200 meters.

Importance of this project: 

  • Assist ONGC in counteracting the decline in overall oil production from its mature fields, marking a significant development for the state-owned oil and gas company.
  • Vital role in achieving the nation's goal of minimising dependence on oil and gas imports to fulfil it's rapidly expanding energy requirements.
  • The project is expected to add 7 per cent each to India’s current production of oil and natural gas.

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