August 17, 2026 09:33 am (IST)
Follow us:
ONGC Board approves KG basin block field development
New Delhi/Mumbai, Mar 28 (IBNS) The Oil and Natural Gas Corporation Limited (ONGC) has informed that its Board, on Monday, has approved Field Development Plan (FDP) for development of Cluster 2 fields of Deep-water NELP Block KG-DWN-98/2.
KG-DWN-98/2 is part of the Krishna Godavari basin block.
The development cost has been estimated at US$ 5076.37 million (approximately Rs 34,012 crores at USD 1 = INR 67).
Cluster 2 of the Block has been divided into two parts: Cluster 2A with an estimated in-place reserve of 94.26 million metric tons (MMt) of crude oil and 21.75 billion cubic metres (BCM) of associated gas and Cluster 2B with an estimated reserve of Free Gas of 51.98 BCM.
ONGC envisages production at a peak oil rate of 77,305 barrel of oil per day (bopd) and 3.81 million metric standard cubic meter per day (MMSCMD) on associated gas through 15 producer wells along with 12 water injection wells with a peak water injection rate of 9400 m3/d from Clutser 2A oilfields.
Peak production rate of peak gas is envisaged at 12.75 MMSCMD from eight wells of Cluster 2B free gas fields.
Total oil and gas production from Cluster 2 is estimated as 23.526 MMt and 50.706 BCM, respectively.
According to ONGC, the peak daily production rate from Cluster 2 is equivalent to 16.89 per cent and 27.60 per cent of its current production rate of crude oil and natural gas, respectively.
The company expects the first gas to be produced by June 209 and first oil by March 2020 with overall completion in June 2020.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Mahindra launches BLAZO i-TRK: All details inside
Sun, Aug 16 2026
Reliance Industries, Rolls-Royce join hands to explore indigenous engine for India’s AMCA fighter
Sat, Aug 15 2026
BSNL’s Independence Day gift: Re 1 Recharge, 412-Day Plan and 500 Free TV Channels. Check now
Sat, Aug 15 2026
Emami’s big snack bet: ₹750 crore investment, new WeMe brand targets ₹1,000 crore in 3-5 years
Sat, Aug 15 2026
HCG Q1 results: Cancer care major posts 190% jump in adjusted profit, revenue rises 13%
Fri, Aug 14 2026
Big relief for Zee Entertainment: SAT allows warrants issue, dividend access despite SEBI ban
Fri, Aug 14 2026
Olectra Greentech Q1 shocker: Revenue soars 66%, profit barely moves; shares crash 4%
Fri, Aug 14 2026
Red Friday on Dalal Street: Sensex plunges 300 points, Nifty slides amid geopolitical tensions
Fri, Aug 14 2026
Tata Motors shares jump 6% after Q1 profit soars 83% to ₹2,560 crore
Thu, Aug 13 2026