ONGC to commence crude oil production from KG-DWN-98/2 (KG-D5) block in May 2024

Oil and Natural Gas Corporation Limited (ONGC) is likely to commence production of crude oil from cluster-2 fields in the KG-DWN-98/2 (KG-D5) bl­o­ck in the Bay of Bengal in May 2024. The floating production storage and offloading unit Armada Sterling V would be used to produce 8,000-9,000 barrels per day (bpd) of oil from three-four wells initially and is li­kely to reach 45,000 bpd in 2024-25. While 2 million standard cubic metres per day (mscmd) gas would flow with the initial oil output, the actual output of gas is likely to commence in May 2024. About 7 to 8 mscmd production is ex­pected. The first consignment of the crude oil will be shipped to ONGC’s sub­sidiary, Mangalore Refinery and Petrochemicals Limited.