NEW DELHI: State-run ONGC will begin pumping crude from its $5-billion venture off the Andhra coast within the subsequent fortnight, bringing on stream the delayed venture that’s pivotal for reversing the corporate’s declining fortunes because of maturing fields.
Output from the KG-DWN 98/2, the second deep sea venture within the east coast after RIL-BP’s KG-D6 acreage, will give a fillip to home oil manufacturing at a time when dependence on imports is rising on the again of increasing oil demand.
The extra volumes will increase the corporate’s profitability, director (finance) Pamila Jaspal stated after decrease manufacturing attributable to pure decline from current fields contributed to a 20% drop within the September quarter revenue.
The $1.6-billion infrastructure being constructed for the block is India’s largest subsea improvement venture. Director (manufacturing) Pankaj Kumar stated ONGC is choosing a sluggish begin with 3-4 wells being put into manufacturing initially.
That is to keep away from errors that led to disastrous penalties for the D1/D3 fuel fields in RIL-BP’s KG-D6 block. A high-volume manufacturing launch might result in a drop in nicely stress and end in sand or water ingress choking the wells.
Kumar stated some 2 mcmd (million cubic meters per day) of related fuel can even movement with oil however precise fuel output will begin in Could 2024, when 7-8 mcmd manufacturing is anticipated.
Peak oil of 45,000 barrels/day is anticipated someday in 2024-25. At peak, a tanker will berth alongside floating storage facility each two weeks to move crude.
Oil manufacturing from the block was to start out in November 2021 however the venture building was delayed as a result of pandemic and construction-related points.
Output from the KG-DWN 98/2, the second deep sea venture within the east coast after RIL-BP’s KG-D6 acreage, will give a fillip to home oil manufacturing at a time when dependence on imports is rising on the again of increasing oil demand.
The extra volumes will increase the corporate’s profitability, director (finance) Pamila Jaspal stated after decrease manufacturing attributable to pure decline from current fields contributed to a 20% drop within the September quarter revenue.
The $1.6-billion infrastructure being constructed for the block is India’s largest subsea improvement venture. Director (manufacturing) Pankaj Kumar stated ONGC is choosing a sluggish begin with 3-4 wells being put into manufacturing initially.
That is to keep away from errors that led to disastrous penalties for the D1/D3 fuel fields in RIL-BP’s KG-D6 block. A high-volume manufacturing launch might result in a drop in nicely stress and end in sand or water ingress choking the wells.
Kumar stated some 2 mcmd (million cubic meters per day) of related fuel can even movement with oil however precise fuel output will begin in Could 2024, when 7-8 mcmd manufacturing is anticipated.
Peak oil of 45,000 barrels/day is anticipated someday in 2024-25. At peak, a tanker will berth alongside floating storage facility each two weeks to move crude.
Oil manufacturing from the block was to start out in November 2021 however the venture building was delayed as a result of pandemic and construction-related points.
)
)
