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India marks a significant milestone in its energy landscape as “first oil” production commences in the Krishna Godavari Deep-Water Block 98/2, located 30 kilometers off the coast of Kakinada in the Krishna Godavari Basin. Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, announced the commencement of oil extraction, heralding it as a substantial achievement for India’s quest toward self-reliance under the “Atmanirbhar Bharat” campaign.
The minister highlighted the expected daily production, boasting a targeted output of 45,000 barrels of oil along with an additional 10 million cubic meters of gas. Puri emphasized the significance of this milestone in a tweet on X (formerly Twitter), underscoring its pivotal role in fortifying India’s energy independence. “First Oil production commences from the complex & difficult deepwater KG-DWN-98/2 Block, situated off the coast of Bay of Bengal,” Puri stated, showcasing its projected contributions toward fostering an energy self-sufficient India.
Puri projected substantial contributions to the national oil and gas production, estimating an increase of 7% in both sectors through this venture. He detailed that the project, initiated in 2016-17, encountered pandemic-induced delays but highlighted the commencement of operations in four out of the 26 planned wells.
The Oil and Natural Gas Corporation (ONGC) echoed the sentiment of success, offering insights into the project’s accomplishments. “#ONGC commenced its ‘First Oil flow to FPSO’ from Krishna Godavari Deep-Water Block 98/2 (in Bay of Bengal) on 7 January 2024,” the company announced on X, underscoring the ongoing progress toward Phase-3, aimed at achieving peak oil and gas production by June 2024. The anticipated outcomes include an 11% increase in ONGC’s total oil production and a 15% surge in gas production.
Prime Minister Narendra Modi lauded the milestone, acknowledging it as a pivotal stride in India’s energy journey. He expressed his sentiments on X, deeming it a “remarkable step” toward realizing an Aatmanirbhar Bharat and highlighting the multifaceted economic benefits this achievement is poised to offer.
The commencement of oil extraction from the Krishna-Godavari Deep-Water Block signifies a leap forward for India’s energy independence, aligning with the country’s aspirations for self-sufficiency and economic advancement in the realm of energy production.
Sources By agencies
