New Delhi [India], January 8 : Minister of Education and Minister of Skill Development and Entrepreneurship, Dharmendra Pradhan, took to the social media platform X to commend ONGC's accomplishment while lauding India's energy security and self-reliance.
Minister Pradhan remarked, "Commencement of oil & gas production by @ONGC from KG basin will boost indigenous production of hydrocarbon resources, further strengthen India's energy security and add momentum to achieving self-reliance in energy. It is due to the reforms initiated by PM @narendramodi that our sedimentary basins are being transformed into thriving hubs of E&P activities. Kudos to the team of @PetroleumMin led by Minister @HardeepSPuri."
https://twitter.com/dpradhanbjp/status/1744219725687849273?s=48
In an achievement for India's energy sector, the Oil and Natural Gas Corporation Limited (ONGC) has commenced oil and gas production from its flagship deep-water project located in the Krishna Godavari basin.
The milestone, marked by the initiation of the 'First Oil flow to FPSO' on January 7, holds significant implications for India's energy security and the nation's pursuit of self-reliance in the hydrocarbon domain.
ONGC's official post on X elaborated on the achievement, signalling the completion of Phase 2 of the project, with Phase 3 currently underway and anticipated to conclude by June 2024.
The 98/2 project is poised to enhance ONGC's overall oil and gas production by 11 per cent and 15 per cent, respectively, contributing significantly to the nation's energy portfolio.
ONGC posted, "#ONGC commenced its 'First Oil flow to FPSO', from Krishna Godavari Deep-Water Block 98/2 (in Bay of Bengal) on 7 January 2024, nearing completion of Phase-2 of the project. Phase-3, leading to peak Oil and Gas production, is already underway and likely to be over in June 2024. The 98/2 project is likely to increase ONGC's total Oil and Gas production by 11 percent and 15 percent respectively. #EnergyNowANDNext @PetroleumMin @HardeepSPuri @Rameswar_Teli"
https://twitter.com/ONGC_/status/1744202635694219390
Prime Minister Narendra Modi, recognizing the strategic importance of the project, shared his views on X, stating, "This is a remarkable step in India's energy journey and boosts our mission for an Aatmanirbhar Bharat."
He emphasized the broader economic benefits that would emanate from this development, aligning with the vision of a self-reliant India.
The Krishna Godavari basin, where the deep-water project is located offshore the eastern coast, emerges as a critical asset in advancing India's capabilities in the hydrocarbon sector.
The phased approach to production reflects ONGC's meticulous planning, optimizing resources while gradually scaling up capacity.
The successful initiation of oil and gas production from this deep-water project signifies not just technological prowess but a crucial step toward reducing dependence on hydrocarbon imports.
It underlines India's commitment to fortify its energy resilience and achieve self-sufficiency in a sector vital for economic growth.
As Phase 3 progresses, the deep-water project is poised to play a pivotal role in India's quest for energy security.
The initiative is not only a testament to ONGC's capabilities but also a testament to India's stride towards a sustainable and self-reliant energy future.
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