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 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
22 July 2025
Next year’s WPC Energy Congress taking place in April in Riyadh, Saudi Arabia will continue to promote the role of women in the energy sector, with a number of events focusing on the issue.
22 July 2025
Pedro Miras is the serving President of WPC Energy for the current cycle which will culminate with the 25th WPC Energy Congress in Riyadh, Saudi Arabia in April 2026. He has over 30 years of experience in the energy sector, including stints with Repsol and the IEA. Here he talks to Petroleum Economist about the challenges and opportunities the global energy sector currently faces.
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
