Oil, gas production from ONGC, OIL below target: Government -Governance Now

Oil, gas production from ONGC, OIL below target: Government

Production has consistently been below the target over the past three years

GN Bureau | May 10, 2016

#ONGC #production #natural gas #Oil #OIL

Ageing fields, frequent blockades, and contractual issues, among others are the reasons for low production of crude oil and natural gas from Oil India (OIL) and ONGC.

The government on Monday informed the Lok Sabha that the production has consistently been below the target in the past 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 two previous years too, the production was lower than the target, petroleum minister Dharmendra Pradhan said in a written reply.

Also, OIL targeted to produce 3.595 MT of crude oil in 2015-16, but could produce only 3.226 MT. In 2013-14 and 2014-15 too, the crude oil production by OIL had declined.

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 MT in 2015-16. In the past 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 action 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.

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