Key ONGC KG Basin project to start crude output in May
Despite the delays and the cost overruns, KG-DWN-98/2 could be pivotal in turning around India’s declining oil production
ONGC, India’s largest crude oil producer, will start commercial production from its much-awaited and much-delayed KG-DWN-98/2 project in the Krishna-Godavari (KG) Basin in May. There is much fanfare and positivity about the project, which is seen as a barometer for the fortunes of India’s deepwater revival after ONGC announced ‘first oil’ from the block, situated off the coast of the Bay of Bengal, in early January. This 98/2 project is likely to increase ONGC’s oil and gas production by 11% and 15% respectively. ONGC noted that “the flagship project is on track with the final phase, with the balance oil and gas fields of the block scheduled to be put on production by mid-2024”. Peak product
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised