Oil and Natural Gas Corporation (ONGC) is actively pursuing technology tie-ups with global energy leaders such as Shell and Petronas. The collaborations aim to enhance operations across several offshore gas fields.
Drilling Operations Expand to New Fields
The company is set to initiate drilling in new fields, including the DWN-98/2 block, which lies in the deep waters of the Bay of Bengal.
ONGC also plans to deploy floating LNG units to bolster its production capabilities.
Focus on Category-II Basins
For Category-II basins like Mahanadi, Bengal, Andaman, Kutch, and Saurashtra, ONGC aims to commence drilling operations by the end of the current fiscal year.
These basins, acquired under the Open Acreage Licensing Policy (OALP), provide licence-holders the flexibility to carve out specific areas for exploration.
KG 98/2 Basin to Reach Peak Output
The KG 98/2 basin is projected to achieve peak production by the end of this financial year, producing 45,000 barrels per day (bpd) of crude oil and 10 million metric standard cubic meters per day (mmscmd) of gas. Production improvements are imminent.
By month-end, there will be real changes, and production numbers will improve. ONGC has just connected six of the 20 wells. The official company statement says that connecting more wells will definitely increase oil and gas production.
Small-Scale LNG Plant in Madhya Pradesh
ONGC has collaborated with global energy giants. Together, they have embarked on a project to establish a small-scale LNG plant. The plant will be located near the Hatta gasfield in the Vindhyan basin, Madhya Pradesh. The initiative underscores the company’s commitment to leveraging its resources for monetisation.
Stranded Gas Discoveries on the Agenda
ONGC has approximately 80 monetisable discoveries. It is preparing to finalise three to four field development plans for its stranded gas reserves. The goal is to complete this by the end of this fiscal year.
Quarterly Production Performance
In Q2 of FY25, ONGC produced 4.576 million tonnes of oil. This shows a slight increase from the 4.545 million tonnes produced in the same period of FY24.
According to projectstoday.com, it is reported that ONGC is poised to enhance its production and operational efficiency. Strategic partnerships, advanced technology, and targeted drilling initiatives will achieve this.
