ONGC is undertaking various steps to increase the production
The Government has introduced various policies for increasing production of oil and natural gas
Government has also provided functional freedom to National Oil Companies and has encouraged wider private sector participation
The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Rajya Sabha today informed that the ONGC’s standalone crude oil and natural gas production over the last five years is given as under:-
|
Year
|
Crude Oil Production
(Million Metric Tonnes)
|
Natural Gas Production
(Billion Cubic Metre)
|
|
2016-17
|
22.249
|
22.088
|
|
2017-18
|
22.305
|
23.484
|
|
2018-19
|
21.111
|
24.747
|
|
2019-20
|
20.714
|
23.853
|
|
2020-21
|
20.273
|
22.096
|
The decline in production of crude oil in recent years has been due to natural decline and increase in water cut in wells of matured fields. ONGC is undertaking various steps to increase the production by redevelopment of existing matured fields and development of new/marginal fields. These inter alia include development of discoveries in Krishna Godavari Basin, monetization of discoveries in Nomination/New Exploration Licensing Policy (NELP) blocks, integrated development of fields, production enhancement contract in small fields, up-gradation/replacement of surface facilities etc. Un-viable small/marginal fields are developed through cluster development concept. Further, Improved Oil Recovery and Enhanced Oil Recovery technologies are inducted for enhancing recovery factor of matured fields.
The Government has introduced various policies for increasing production of oil and natural gas under Production Sharing Contract (PSC) regime, Discovered Small Field Policy, Hydrocarbon Exploration and Licensing Policy, etc. Government has also provided functional freedom to National Oil Companies and has encouraged wider private sector participation by streamlining approval processes including electronic single window mechanism.
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YB/RKM
(Release ID :234065)