New Delhi:India announced its first oil extraction from a new discovery from state-owned ONGC’s flagship deep-sea project in the Krishna Godavari Basin. With four operational wells and a target of 45,000 barrels per day by June, this project is set to contribute 7% to both crude oil and gas production in India.
Union Petroleum Minister Hardeep Puri, emphasising the strategic importance of this development has told reporters, “I am sure that out of the 26 wells there, four wells are already operational. We will not only have gas also in a short period of time, but by May or June we will hope to able to produce 45,000 barrels per day, which will be 7 per cent of our total crude oil production and 7 per cent of our gas production”.”
