ONGC 2019 Production Plan
STATE-OWNED ONGC's significant oil discovery in Bay of Bengal will begin production in 2019. with a peak output of 4.5 million tonnes a year. 20 per cent more than previous estimates. The oil discovery in Krishna Godavari basin block KC-DWN-98/2 or KG-D5 will be the first large oil production from tlie east coast. The block also has 10 gas discoveries.
"We are moving fast on KG-D5 development. First gas from the block is planned for 2018 and first oil in 2019." Oil and Natural Gas Corp (ONGC) Chairman and Managing Director. Dinesh K Sarraf told reporters here.
While a bulk of its near 25 million tonnes crude oil production comes from western offshore and fields in stales like Gujarat and Assam. KG-D5 will produce upto 90.000 barrels per day (4.5 million tonnes per annum) - the largest from any field on the east coast.
"Conservative estimates put the production at 75.000-plushpd." he said. Anothercom-pany official put the peak output at 90.000 bpd.