Fossil Energy – India
Oil and Natural Gas Corporation (ONGC) has started crude oil production from its massive deep-sea project in the Krishna-Godavari (KG) basin block KG-DWN-98/2.
Located off the coast of Bay of Bengal, India, the block was hit by multiple delays and deadline extensions over the past few years.
The project is expected to help the state-owned oil and gas behemoth to arrest the decline in its overall oil production from its mature fields.
This flagship 98/2 project is likely to increase ONGC’s total Oil and Gas production by 11 per cent and 15 per cent respectively.