ONGC has also commissioned its gas export line from the offshore-to-onshore terminal. Credit: T. Schneider/Shutterstock.

India-based Oil and Natural Gas Corporation (ONGC) has opened a new well in its deep-sea project in the Krishna Godavari (KG) basin, aiming to enhance the production of crude oil and natural gas.  

This development is part of ONGC’s flagship project in the Bay of Bengal and follows the commencement of oil production from the KG-DWN-98/2 or KG-D5 block in January this year. 

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In a stock filing, ONGC said: “It is hereby informed that on 24 August 2024, ONGC marked a significant milestone by starting production from its fifth oil well in the Block KG-DWN-98/2 Cluster-2 asset.  

“Leveraging the floating production, storage, and offloading (FPSO) vessel, ONGC has begun transporting and sale of associated gas, all the while underscoring its commitment to achieving zero gas flaring.” 

The government-backed company did not disclose the production capacity of the new well.  

ONGC has also commissioned its gas export line from the offshore-to-onshore terminal.  

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“Earlier in January, oil production commenced from the same asset, with 4 of 13 wells already flowing. Gas production is also advancing, with 3 of 7 wells online,” it added. 

The KG-D5 block, adjacent to Reliance Industries‘ KG-D6 block, comprises several discoveries grouped into clusters.  

Cluster 2, located 35km off the coast of Andhra Pradesh with water depths between 300-3,200m, is the first to be developed. 

Earlier this month, ONGC announced plans to invest approximately Rs138bn ($1.64bn) in two key projects. 

The Daman Upside Development project in the Mumbai High field will see an investment of Rs78bn and is expected to reach a peak production of around five million standard cubic metres per day (mscm/d).  

Additionally, ONGC’s board approved the integrated development of four contract areas under the discovered small fields policy at an estimated cost of Rs60bn, targeting a peak production of approximately 4mscm/d.