ONGC has reduced estimates of peak oil and gas production from its $5-billion KG basin project by 35-40%, despite starting oil production from the deep-water field. The output from the KG-DWN-98/2 block is expected to reach a peak of 45,000 barrels of oil per day and over 10 million metric standard cubic meters per day of natural gas. The project, which was delayed, began gas production in March 2020 and oil in January 2024.
KG Basin Project: The output from its KG-DWN-98/2 block will slowly ramp up and is expected to reach a peak of 45,000 barrels of oil per day and over 10 million metric standard cubic meters per day (mmscmd) of natural gas, the company said on Monday, without specifying when the peaks will be reached.
ONGC Videsh, the overseas investment arm of India s top explorer Oil and Natural Gas Corp, has $600 million of dividend pending for its 40% stake in the San Cristobal field in eastern Venezuela s Orinoco Heavy Oil belt.
Green Projects At HPCL: The comments come after India s finance minister announced a plan this year to provide equity of 300 billion rupees (USD 3.6 billion) to help the big state oil refiners move towards cleaner energy.
Ongc: The comments come after India s finance minister announced a plan this year to provide equity of 300 billion rupees (USD 3.6 billion) to help the big state oil refiners move towards cleaner energy