In a significant stride towards achieving energy security and bolstering the vision of 'Aatmanirbhar Bharat' (Self-Reliant India), the Oil and Natural Gas Corporation (ONGC) has initiated the production of "first oil" from the country's inaugural crude find, the Krishna Godavari Deep-Water Block 98/2. This milestone marks a pivotal moment in India's energy landscape, with Prime Minister Narendra Modi hailing it as a remarkable step in the nation's journey towards self-sufficiency prosperity.
Situated thirty kilometers off the coast of Kakinada in the Bay of Bengal, the Krishna Godavari basin has become the focal point of India's oil exploration efforts. The commencement of oil extraction from this deep-water block not only signifies a breakthrough in technological prowess but also holds the promise of reversing the years of decline in domestic oil output.
The 'first oil' flow from the KG-DWN-98/2 block on January 7th, 2024, signals the culmination of Phase 2 of the project. With Phase 3 already underway and slated for completion by June 2024, the project is poised to achieve peak oil and gas production, significantly augmenting India's energy reserves.
The anticipated production figures are impressive, with expectations of 45,000 barrels per day and over 10 million cubic meters of gas per day. Such a surge in output is poised to make a substantial contribution to India's energy requirements, reducing its dependency on imports from global markets.
Crude oil production, comprising natural gas liquids (NGLs) and additives, is a critical component of India's energy mix. NGLs, extracted during the purification and stabilization of natural gas, further enhance the versatility of India's energy resources. Additives play a vital role in refining processes, optimizing the properties of petroleum products for various applications.
ONGC, often hailed as the cornerstone of India's energy sector, is a Maharatna company responsible for a significant portion of the country's crude oil and natural gas production. Accounting for approximately 71% of India's domestic oil production, ONGC's contribution is instrumental in meeting the nation's energy demands.
The downstream ecosystem, comprising companies like IOC, BPCL, HPCL, and MRPL (the latter two being ONGC subsidiaries), utilizes crude oil as a primary raw material for manufacturing petroleum products such as petrol, diesel, kerosene, naphtha, and cooking gas (LPG). This integrated approach ensures the optimization of resources and enhances India's energy security.
The discovery and exploitation of indigenous oil fields are critical to reducing India's reliance on imports and ensuring long-term energy sustainability. With notable oil fields like Digboi in Assam, Bombay High in Maharashtra, and now Krishna Godavari Deep-Water Block 98/2, India's energy landscape is witnessing a transformative evolution.
In conclusion, ONGC's successful initiation of oil production from the Krishna Godavari basin highlights India's commitment to achieving self-reliance in the energy sector. As the nation marches forward on its path to economic growth and sustainability, investments in indigenous energy resources emerge as catalysts for progress, laying the foundation for a robust and resilient energy future.
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