Oil & Natural Gas Corporation (ONGC) has begun gas production from its most promising block in the Krishna Godavari basin in the Bay of Bengal and is planning a ramp up production in coming weeks. The company’s KG-DWN-98/2 or KG-D5 block, which sits next to Reliance Industries' flagging KG-D6 area, holds key to the company's output profile that is constrained by aging fields.
The company began production from the first well on the KG-D5 block and is currently producing around 0.25 million standard cubic meters per day. It is doing a build-up mapping and the production is likely to rise to 0.75 mmscmd within next few weeks.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
