Black Gold at Deep Dive: ONGC Taps New Treasure Trove

8 Jan 2024 , 10:38 AM

Sunday marked the beginning of oil production from India’s premier deep-water project, located offshore the country’s eastern coast in the Krishna Godavari basin, managed by the state-owned Oil and Natural Gas Corporation (ONGC).

Hardeep Singh Puri, the Union Minister for Housing and Urban Affairs and Petroleum and Natural Gas, went to X to announce that the production of ‘First Oil’ has begun from the challenging and complex deepwater KG-DWN-98/2 Block, which is located off the shore of the Bay of Bengal.

The union minister went on to say that the country’s energy output would also emerge from Krishna Godavari’s furthest reaches.

‘Happy Birthday, my love! #ONGCJeetegaToBharatJeetega! Under the direction of PM @NarendraModi Ji, India’s economy is expanding at the quickest rate in the world, and the country’s energy output is expected to rise from the depths of the Krishna Godavari. Production of ‘First Oil’ begins in the challenging and complex deepwater KG-DWN-98/2 Block off the coast of the Bay of Bengal, he stated.

He added that output is anticipated to reach 45,000 barrels per day and produce more than 10 million cubic meters of gas per day, helping to fulfill Aatmanirbhar Bharat’s energy needs.

‘This project is expected to add 7% to current national oil production and 7% to national Natural Gas production!’ he stated.

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