India's crude oil production drops 2.4% yoy in January to 2,511.66 TMT

24 Feb 2022 , 09:05 AM

Crude oil production during January 2022 was 2511.66 TMT, which is 6.04% lower than target for the month and 2.40% lower than the production of January 2021, as per the data released by Centre.

Accordingly, cumulative crude oil production during April-January, 2021-22 was 24890.07 TMT, which is 4.63% and 2.61% lower than target for the period and production during corresponding period of last year respectively.

Crude oil production by ONGC (Oil and Natural Gas Corporation) in nomination block during January 2022 was 1662.79 TMT, which is 3.68% lower than target of the month and 3.09% lower when compared with production of January 2021.

Cumulative crude oil production by ONGC during April-January, 2021-22 was 16259.10 TMT, which is 4.29% and 3.93% lower than target for the period and production during corresponding period of last year respectively.

Reasons for shortfall in production are as under:

• Less than anticipated production from WO-16 cluster due to delay in mobilization of MOPU Sagar Samrat.
• Less than anticipated production from Cluster-8 fields due to delay in inputs as installation of wellhead platforms got delayed due to Covid impact.
• Loss in oil production in Ratna & R-Series due to scaling in wells and delay in H2S package at R-13A wells.
• Less condensate receipt at Hazira due to less gas production from B&S Asset.

Crude oil production by OIL (Oil India Ltd) in the nomination block during January 2022 was 255.32 TMT, which is 5.25% higher when compared with production of January 2021 but 9.69% lower than target of the month. Cumulative crude oil production by OIL during April-January 2021-22 was 2499.16 TMT, which is 1.21% higher than the production during corresponding period of last year but 5.16% lower than target for the period.

Natural gas production during January 2022 was 2861.09 MMSCM, which is 12.17% higher than the production of January 2021 but 16.47% lower than the monthly target. Cumulative natural gas production during April-January 2021-22 was 28535 MMSCM, which is 20.50% higher than production during corresponding period of last year but 9.59% lower when compared with target for the period.

Production of Petroleum Products during January 2021 was 22997.96 TMT, which is 3.55% higher than production of January 2021 and 3.72% higher than target for the month.

Further, cumulative production during April-January, 2021-22 was 209006.59 TMT, which is 1.71% and 9.29% higher than target for the period and production during corresponding period of last year respectively.