State-run ONGC will start production of gas from its lone field with proven reserves of this variety of hydrocarbon in the Krishna Godavari basin off the east coast in December this year and expects to reach the peak production level in 2022. “We are getting encouraging results with new oil and gas discoveries (in KG basin),” an ONGC executive said. The executive added that the initial production from the field KG-DWN-98/2 will be 4-5 mscmd with peak rate being 17 mscmd.
Reliance Industries’ D1 and D3 fields in the KG Basin currently produce around 4 mscmd and production is likely to cease by end of this year. At its peak, the field’s output had hit 61.4 mscmd. The government recently made changes to its Hydrocarbon Exploration and Licensing Policy.
