Indian state petroleum minister Rameswar Teli
Key ONGC KG Basin project to start crude output in May
Despite the delays and the cost overruns, KG-DWN-98/2 could be pivotal in turning around India’s declining oil production
ONGC, India’s largest crude oil producer, will start commercial production from its much-awaited and much-delayed KG-DWN-98/2 project in the Krishna-Godavari (KG) Basin in May. There is much fanfare and positivity about the project, which is seen as a barometer for the fortunes of India’s deepwater revival after ONGC announced ‘first oil’ from the block, situated off the coast of the Bay of Bengal, in early January. This 98/2 project is likely to increase ONGC’s oil and gas production by 11% and 15% respectively. ONGC noted that “the flagship project is on track with the final phase, with the balance oil and gas fields of the block scheduled to be put on production by mid-2024”. Peak product
Also in this section
22 September 2025
The OPEC+ producer could bring significant idle barrels to the market in the next 12 months
22 September 2025
The UK-listed junior’s strategy is maturing prospects and then bringing on board bigger partners to continue development
19 September 2025
Progress on fixing Nigeria’s long-term oil pipeline theft problem needs to be supported by a wider strategy to avoid relapse
19 September 2025
CEO Marshall Abbott highlights success in the Llanos Basin and explains why Colombia has a lot of untapped potential
