ONGC to commence crude oil production from KG-DWN-98/2 block in December

Oil and Natural Gas Corporation Limited (ONGC) is likely to commence production of crude oil from the Cluster 2 fields in the KG-DWN-98/2 (KG-D5) block in the Bay of Bengal in December 2023. The floating production storage and offloading unit Armada Sterling V will be used to produce 8,000-9,000 bpd of oil from three to four wells initially. This is likely to reach 45,000 bpd in 2024-25. While 2 mscmd of gas will flow with the initial oil output, the actual gas output is likely to commence in May 2024.