Oil and Natural Gas Corporation (ONGC) has started crude oil production from its massive deep-sea project in the Krishna-Godavari (KG) basin block KG-DWN-98/2, which was hit by multiple delays and deadline extensions over the past few years. The project is expected to help the state-owned oil and gas behemoth to arrest the decline in its overall oil production from its mature fields.
“ONGC announces the successful commencement of ‘First Oil’ from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal. This 98/2 project is likely to increase ONGC’s total Oil and Gas production by 11 per cent and 15 per cent respectively,” the public sector oil company said in a statement.
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