Oil & Natural Gas Corpn has flagged off its prolific east coast project of KG-DWN-98/2 by spudding its first well #KDG-A. The well #KDG-A is one of the 34 wells planned under this mega project.
The deepwater well has a target depth of 2346 meters, under a water depth of 518 meters. The well is expected to produce around 5000 barrels of oil per day (bopd) when put to production.
This ambitious project of ONGC is going to be a major contributor towards the Hon’ble Prime Minister’s target to reduce nation’s hydrocarbon import dependence by 10 per cent by 2022. The project would cumulatively produce around 25 MMT of oil and 45 BCM of gas with peak production of 78000 barrels per day of oil and 15 MMSCMD of gas. ONGC expects to bring first gas from this project to market by 2019 end and oil by 2020.
The project envisages an CAPEX of 5.07 Billion US Dollars and OPEX of 5.12 Billion US dollars over field life of 16 years.
