Oil and Natural Gas Corporation (ONGC) has pumped first gas from its deep-water U1B well in Krishna Godavari block KG-D5 in the Bay of Bengal. The well, in KG-DWN 98/2 Block's Cluster-2, has an estimated peak production of 1.2 million cubic meters per day of gas. ONGC's KG-DWN-98/2 or KG-D5 block has a number of discoveries that have been clubbed into clusters.
The discoveries in the block are divided into three clusters- Cluster-1, 2 and 3. Cluster 2 is being put to production first. The Cluster 2 field is divided into two blocks namely 2A and 2B, which are expected to produce 23.52 million metric tonne of oil and 50.70 billion cubic meters (bcm) of gas. Oil production is likely to start shortly.
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.
| Company Name | CMP |
|---|---|
| ONGC | 283.45 |
| Oil India | 468.25 |
| Jindal Drilling&Inds | 543.00 |
| Deep Industries | 484.25 |
| Asian Energy Service | 311.55 |
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