ONGC seeks peak oil, gas from KG block in FY24
Oil and Natural Gas Corporation’s (ONGC’s) delayed Krishna Godavari basin KG-D5 project is likely to hit peak oil and natural gas output in 2023-24 and will help the firm to reverse the downward slide in its overall production, a senior official said on Monday.
ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 due to contracting issues and supply chains being hit by the pandemic.
The project was further pushed back and crude oil is now expected to reach Indian shores in the third quarter of 2022 — against the revised target of November 2021 — and natural gas in May 2023, against the revised target of May 2021.
