ONGC to start oil production fromKG block in 2019

State-run Oil and Natural Gas Corporation’s (ONGC) major oil discovery in the Bay of Bengal will start production in 2019, ONGC Chairman and Managing Director Dinesh K. Sarraf said here on Saturday.

“We are moving fast on KG-D5 development. First gas from the block is planned for 2018 and first oil in 2019,” he told reporters.

Estimates

“Conservative estimates put the production at 75,000-plus bpd,” he said.

The oil discovery in Krishna Godavari basin block KG-DWN-98/2 or KG-D5 is the first large oil production from the east coast. The block also has 10 gas discoveries.

KG-D5 will produce up to 4.5 million tonnes per annum — the largest from any field on the east coast.