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

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.

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