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The production was initiated using a floating production, storage, and offloading (FPSO) vessel, which facilitates the transport and sale of associated gas. ONGC has also emphasised its commitment to achieving zero gas flaring, aligning with its environmental goals.
NEW DELHI: Oil and Natural Gas Corporation (ONGC) on Saturday announced a significant advancement in its operations by starting production from its fifth oil well in the KG-DWN-98/2 Block, specifically in the Cluster-2 asset. This move marks a major milestone for the company, enhancing its presence in the Krishna-Godavari basin.
The production was initiated using a floating production, storage, and offloading (FPSO) vessel, which facilitates the transport and sale of associated gas. ONGC has also emphasised its commitment to achieving zero gas flaring, aligning with its environmental goals. The company has successfully commissioned a gas export line from the offshore facility to the onshore terminal.
A major milestone achieved in oil & gas production by @ONGC_ in India’s ambitious journey towards energy self-sufficiency under the dynamic leadership of PM @narendramodi Ji.
Gas begins to flow through a newly laid 20 inches sub-sea pipeline from offshore wells/ Floating… pic.twitter.com/mPqlATALx9
— Hardeep Singh Puri (@HardeepSPuri) August 25, 2024
“On 24th August 2024, ONGC marked a significant milestone by starting production from its fifth oil well in the Block KG-DWN-98/2 Cluster-2 asset,” the company stated in an exchange filing.
Oil production from this asset began in January, with four of the 13 wells now operational. Gas production is also progressing, with three of the seven wells online. This development reflects ONGC’s ongoing efforts to boost its energy output, including the addition of six water injection wells to enhance overall production.
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In a strategic move earlier this month, ONGC’s board approved further investment in ONGC Petro additions Limited (OPaL), increasing its stake in the company to 92%. This decision is part of ONGC’s broader strategy to expand its footprint in the energy sector.
Additionally, ONGC Videsh, the overseas arm of ONGC, secured a 16-year extension for oil and gas production in Vietnam on August 19, 2024. This extension is a testament to ONGC’s international expansion efforts and commitment to maintaining its global presence.
FLASH: India’s #ONGC starts ‘First Oil’ production from its 5th Oil Well in #KGbasin in #KrishnaRiver. pic.twitter.com/65o0oE2paK
— The New Indian (@TheNewIndian_in) August 25, 2024
The company’s recent activities underscore its dedication to energy self-sufficiency and expansion in both domestic and international markets.
