ONGC's Gas Output to be 102 mmscmd in 2018-19

Indian state owned ONGC’s gas output will increase by almost 55 percent in 2018-19 from current levels, Press Trust of India reported Sunday.

Production will increase from 66 mmscmd in current fiscal (2015-16) and to 102 mmscmd in 2018-19, a senior company official told Press Trust. 

"We have a series of gas fields that will come into production between now and 2018-19. As a result, the production will rise to 73 mmscmd in 2016-17, to 87 mmscmd in 2017-18 and finally to 102 mmscmd in 2018-19," the official said. 

ONGC will be investing billions of dollars in six major field developments and also in redevelopment of three currently producing fields including Mumbai High and Heera fields. These investments do not include the over $8 billion that the company is planning to spend on the Krishna Godavari basin gas block of KG-DWN-98/2 or KG-D5, Press Trust said. 

"KG block investment has not yet been approved by the board. The others are all sanctioned investments," he said adding KG-D5 is likely to begin producing oil and gas from 2018-19.