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.
 

Comments

 

Other News

Rise of Nirmala Sitharaman, plight of Baiga women and more from the week gone by

Today, Nirmala Sitharaman, India’s first woman full-time defence minister, may appear a picture of poise and confidence. But 11 years ago, she wasn’t even sure if she should join the Bharatiya Janata Party (BJP), which has allowed her political career – and, of course, her abilities &ndas

Modi’s gift to Varanasi: Projects worth Rs 1,000 crore

On his first visit to Varanasi after the Uttar Pradesh polls, PM Modi announced and laid foundation stones of various projects on Friday and Saturday. Addressing a public meeting in Varanasi on Saturday, PM Modi took took a jibe at the opposition saying that the BJP’s programmes are no

Indian Aviation Academy unveiled

Union minister for civil aviation, P Ashok Gajapathi Raju unveiled a new campus of the Indian Aviation Academy (IAA) spread over 5.33 acres. Civil aviation, secretary, R N Choubey said India is poised to attain its coveted place on global aviation arena as one among top three largest aviatio

BHEL surpasses 12th plan capacity addition target

Attributing enhanced focus on project execution as the reason behind Bharat Heavy Electricals Limited’s (BHEL) growth, the enterprise’s CMD Atul Sobti said BHEL achieved a capacity addition of 45,274 MW during the 12th five year plan period (2012-17) and surpassed the target of 41,661 MW by 9 p

No right to plan their families

Bhadiya from Bhanpur Kheda village does not know her age. She has five children – the eldest one is 12-year-old while the youngest is an infant. Considering she got married in her teens – like most women in her village – Bhadiya must be in her 30s. After giving birth to five children she

SAIL to leverage domestic growth potential

Steel authority of India (SAIL) chairman PK Singh expressed confidence on improving the performance of the Maharatna PSU in the current fiscal because of a host of initiatives in almost every area of operations. During 45th annual general meeting of the company, Singh said the world steel as



Video

Falahari Maharaj arrested on rape charges

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter