ONGC aims to raise output over next two fiscals, says exploration director

In what may come as relief amid growing uncertainty over availability of petroleum products across the world in the aftermath of Russia-Ukraine war, India’s largest explorer ONGC plans to raise its output over the next two fiscals from 2023-24 onwards.

According to ONGC’s Director, Exploration, Sushma Rawat, the company’s long standing efforts of raising output from KG Basin are likely to show results from 2023-24 onwards.

Rawat told IANS on the sidelines of India Energy Week here that in the next two years, production from KG basin is expected to double.

India’s dependency on crude imports had risen to 87 per cent in recent years, owing to falling output of ONGC.