Report on delay in ONGC's KG basin gas by Dec 24

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SME Times News Bureau | 26 Nov, 2014
A committee headed by the director general of hydrocarbons (DGH) will submit, by Dec 24, its inquiry report on the delay in developing gas discoveries in state-run explorer ONGC's Krishna Godavari basin KG-D5 block, parliament was told Tuesday.

"The government has set up a three member inquiry committee for inquiring into the matter of delay in developing gas discoveries in KG-D5 (KG-DWN-98/2) block," Petroleum Minister Dharmendra Pradhan told Lok Sabha in a written reply.

The inquiry committee comprises of the director general, hydrocarbon, the advisor to the internal finance division, as well as the deputy secretary (exploration) of the petroleum ministry, Pradhan said.

The KG-D5 block, with its 11 oil and gas discoveries and awarded to ONGC in the first round of auctions under the New Exploration Licensing Policy (NELP) in 2000, is still at least four years away from the first output. ONGC estimates gas production from the block to begin in 2018 and oil output in 2019.

KG-D5 will produce up to 90,000 barrels per day (4.5 million tonnes per annum) making it the largest from any field on the eastern offshore. It will produce 17 million standard cubic meters per day of gas.