UK-based oil and gas major BP Plc today said new natural gas production from the flagging eastern offshore KG-D6 block will start after 2020, at least three years later than previously planned schedule. BP in its fourth quarter earning presentation said Satellite, R-Series and D-55 discoveries will start production “beyond 2020.” The company holds 30 per cent interest in Reliance Industries-operated KG-DWN-98/3 or KG-D6 block in the Bay of Bengal.
The discoveries, it said, are currently in “design” stage, implying project engineering work was in progress and construction is yet to begin.
Reliance Industries holds 60 per cent interest in the block while the remaining 10 per cent is with Niko Resources of Canada. RIL-BP currently produce gas from Dhirubhai-1 and 3 field and oil and gas from MA field, three of the over one-and-half dozen discoveries made in KG-D6 block.
The fields, which began gas production in April 2009, hit a peak output of 69.43 million standard cubic meters per day in March 2010 before water and sand ingress shut down well after well.
The block currently produces around 8.7 mmscmd.
“By 2020, we anticipate that our current suite of major projects will add 800 million barrels of oil equivalent per day (mboed) of new production net to BP, which includes 500 mboed of new capacity planned to be on-line by end of 2017,” BP said without giving break-up of output from a portfolio that spans across the globe.
Work for developing R-Series and satellite discoveries has begun.
A field development plan (FDP) approved in August 2013 envisages USD 3.18 billion investment in R-Series or D-34 gas field to produce 13-15 mmscmd of gas for 13 years. Read more
Latest posts by ET Energy World (PTI Copy) (see all)
- India May Produce Surplus Power In Current Financial Year, Says Fitch – September 10, 2017
- Oil Companies To Install New Device To Check Refill Of Fuel: Ram Vilas Paswan – September 10, 2017
- Policy Needed To Make Storage Part Of All Renewable Energy Projects: Expert – September 10, 2017