Oil, gas production from ONGC, OIL below target

The government said the production has consistently been low in the last three years

GN Bureau | May 10, 2016


#ONGC   #OIL  


Aging fields, frequent bandhs and blockades, and contractual issues among others are the reasons for low production of crude oil and natural gas from Oil India Limited (OIL) and Oil and Natural Gas Corporation (ONGC). The government on Monday informed the Lok Sabha that the production has consistently been below the target in the last three years, Deccan Herald reported.

The ONGC had targeted to produce 22.732 MT of crude oil in 2015-16, but it produced only 22.368 MT. In the two previous years also, the production was lower than the target, petroleum minister Dharamendra Pradhan said in a written reply.

Also, OIL targeted to produce 3.595 MT of crude oil in 2015-16 but could only produce 3.226 MT. In 2013-14 and 2014-15 as well, the crude oil production by OIL was below target.

The production of natural gas was targeted at 23.908 MT from ONGC fields, but the company could produce only 21.177 MT. OIL aimed at producing 3.001 MT of natural gas, but could reach a level of only 2.838 in 2015-16. In the last two years, natural gas production from the two firms also declined, the minister said.

“Most of the oil and gas producing fields of ONGC and OIL are mature and at natural declining phase. In order to arrest the natural decline of these fields, ONGC and OIL have taken various actions for augmenting/maintaining crude oil and natural gas production,” Pradhan said.

He said, delay in completion of development and redevelopment of projects have also been the reason for lower production of gas and crude oil.
 

Comments

 

Other News

Accuracy more important than speed in news: Anurag Thakur

Presenting authentic information is the prime responsibility of media and that facts should be properly checked before they are put in the public domain, union minister of information and broadcasting Anurag Thakur has said. “While speed with which the information is transmitted is imp

FM concludes pre-budget consultations

Union minister for finance and corporate affairs Nirmala Sitharaman has concluded the pre-budget consultation meetings for Budget 2023-24 that were held from November 21 to 28 in the virtual mode. More than 110 invitees representing seven stakeholder groups participated in eight meetings sch

Coal production rises by 18% to 448 MT

The total coal production in the country stands at 448 million tonnes (MT) for the month of October 2022 which is 18% higher than the production of the corresponding period of last year. The growth of coal production from Coal India Ltd (CIL) is also more than 17%. The ministry of coal said

How to execute large-scale social impact projects

The number of social innovators and entrepreneurs has considerably increased recently in India. The idea of social entrepreneurship, which aspires to provide novel solutions for the world`s most critical social issues, is now receiving more attention. Challenges like overworked healthcare,

Plastic is no longer a waste management issue

Plastic is arguably the most ubiquitous material of our times. In this Age of Plastic, it might seem its use can’t go up any further – and yet it keeps going. Between 2000 and 2015, global production of plastic increased by a whopping 79%. The total mass of plastics on our planet is now twice t

Celebrating the Ganit of Protein!

“Why is the child growing?” is the question that bothers a lot many in the administration. The answer, to be honest, is to be discovered via science, and less via what we call ‘effective administration’. Eventually, it will be the latter that will enforce the former on the field, bu

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter