Indian state-owned Oil and Natural Gas Corp (ONGC) plans to double gas production to over 100 mcf/d (2.8 mcm/d) in the next 5-6 years.
In the last three years, ONGC completed 15 production related projects (including 8 brownfield and 7 greenfield) worth Rs 54,000 crore (US$8.4bn). These projects should produce 87 Mt of crude and 56 bcm of gas during their profile period. During the fiscal year 2017 (April 2017-March 2018), ONGC already produced 5 Mt of crude and 3.5 bcm of gas from these projects.
ONGC also approved 17 projects with a combined investment of Rs 76,000 crore (US$11.86bn) in the last three years. These new projects are expected to produce a total of 69 Mt of oil and 118 bcm of gas and their cumulative production should peak during 2020-21 at 6.65 Mt of crude and 13.4 bcm of gas. ONGC's flagship project includes Cluster-II in Bay of Bengal block KG-DWN-98/2 (KG-D5), which should produce about 25 Mt of oil and 50 bcm of gas over the project's life with peak production of 4 Mt of oil and 5.5 bcm of gas.
In the next few years, the Indian government aims at increasing the share of gas in the energy mix to 15%, up from 5.3% in 2016.
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