ONGC starts oil production from delayed $5 billion deep-water project
New Delhi: State-owned Oil and Natural Gas Corporation (ONGC) on Monday said it has started oil production from its much-delayed flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, which will help reverse years of decline in output.
The ‘first oil’ from the deep-water KG-DWN-98/2 block in Bay of Bengal has flowed on January 7, the firm said in a statement.
Oil Minister Hardeep Singh Puri also announced the start of production in a post on X but neither he nor ONGC gave out the amount of oil being produced.
‘This 98/2 project is likely to increase ONGC’s total oil and gas production by 11 per cent and 15 per cent respectively,’ ONGC said in the statement.
