Oil and Natural Gas Corporation will bring to production various clusters of its marginal fields on the western offshore in the next two years. This would add six million tonnes of oil and 12-15 million standard cubic metres of gas per day to ONGC's current production.
ONGC accounts for 79 per cent of India's crude oil and 54 per cent of natural gas production. It produced 52.05 million tonnes of oil equivalent (mtoe) from its domestic fields during 2009-10 against 52.45 mtoe in 2008-09. The production from marginal fields would amount to more than a tenth of the current production and help meet the shortfall created by decline in production from the existing fields.
Western offshore marginal fields which are planned to be put on production during the next two years include the B-22 cluster (four fields); North Tapti; B-46 cluster (four fields); B-193 cluster (eight fields) and B-192 cluster (two fields). The company had earlier approved development of various offshore marginal fields, including additional development of the D-1 field (13.962 million tonnes of oil by 2025) at an investment of Rs 2,163.6 crore. The development of the North Tapti gas field (4.166 billion cubic metres gas by 2021) has been approved at an investment of Rs 755.7 crore and development of the Cluster-7 fields (9.73 million tonnes of oil and condensate and 4.52 billion cubic metres of gas by 2029) at an investment of Rs 3,241 crore.
| Company Name | CMP |
|---|---|
| ONGC | 283.95 |
| Oil India | 470.10 |
| Jindal Drilling&Inds | 540.15 |
| Deep Industries | 476.90 |
| Asian Energy Service | 306.05 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: