{"id":8679,"date":"2023-11-13T13:53:37","date_gmt":"2023-11-13T13:53:37","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=8679"},"modified":"2023-11-13T13:53:37","modified_gmt":"2023-11-13T13:53:37","slug":"indias-ongc-ready-to-start-oil-production-at-5-billion-deepwater-project","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/8679\/","title":{"rendered":"India\u2019s ONGC Ready To Start Oil Production At $5-Billion Deepwater Project"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0India’s state-run Oil and Natural Gas Corporation (ONGC) could finally see first oil production from a $5-billion deepwater project in November, three years after the initial timeline.<\/p>\n

ONGC is ready to start pumping oil from a block in the Krishna Godavari basin in the Bay of Bengal this month, ONGC Director of Production, Pankaj Kumar, told Indian outlet PTI<\/a> on Monday.<\/p>\n

“We plan to start producing from the Cluster-2 project in KG-DWN-98\/2 block this month and slowly ramp up,” Kumar said.<\/p>\n

The project has been delayed several times and is currently running three and a half years behind the original schedule for start-up in March 2020, after it was delayed by the pandemic.<\/p>\n

KG-DWN-98\/2, or the KG-D5 block, sits next to the KG-D6 block of India’s private conglomerate Reliance Industries in the Krishna Godavari (KG) basin.<\/p>\n

ONGC initially expected to begin oil production in the KG-D5 block in March 2020. The deadline has been further extended several times. Earlier this year, an ONGC official said crude oil production could begin by June<\/a>.<\/p>\n

The timeline was subsequently pushed back to August 2023, then to September 2023, and finally, to October 2023.<\/p>\n

Now, ONGC seems fairly confident that oil production could begin in November.<\/p>\n

The Indian state-held oil giant has told Shapoorji Pallonji Oil & Gas (SPOG), the provider of the floating production, storage, and offloading vessel (FPSO) Armada Sterling-V, that it should prepare to receive first oil this month.<\/p>\n

Initial oil output is expected to be around 8,000-9,000 barrels per day (bpd) from up to four wells, Kumar told PTI.<\/p>\n

“These are extremely complex reservoirs and we need to be sure about everything before we start production,” the executive said.<\/p>\n

ONGC hopes<\/a> the deepwater field and other start-ups currently in various stages of development to reverse a decline in its oil production due to maturing oilfields. India relies on crude oil imports to meet around 80% of its demand.<\/p>\n

Updated on