ONGC gas sale from KG basin: Key to boost domestic output
Oil and Natural Gas Corporation (ONGC) has called on buyers to bid for natural gas from the deepwater fields of the KG-DWN 98/2 block off the east coast. ONGC is set to supply about 2 million metric standard cubic metres per day (MMSCMD) of natural gas from the fields starting June-end.
Its importance
The ramping up of production from the KG-DWN 98/2 block by ONGC is a key component of the government’s plan to boost domestic production, with the block expected to reach peak production of 15 MMSCMD by 2024. This would account for an about 20 per cent increase above the company’s current production level of about 70 MMSCMD.
