CHENNAI: State-owned oil and gas explorer and producer ONGC Ltd is expecting an increase in the domestic production of oil and gas as more and more wells in the Krishna-Godavari (KG) basin start production.
According to the company’s chairman Subhash Kumar, ONGC has already begun producing out of its second well in the KG block on August 31 this year in what is considered the largest sub-sea oil block in the country. “We have started gas production from second deep-water U1B well in KG-DWN-98/2 Block’s Cluster-II on August 31, 2021,” Kumar told shareholders at the company’s AGM. A total of 34 wells are to be drilled as part of the KG-DWN-98/2 project.