ONGC misses oil target in Assam, but boosts gas output


ONGC misses oil target in Assam, but boosts gas output

ONGC has missed its oil production target for ASSAM in 2017-18. It had set a target to produce 5.9m barrels or 16,200 b/d over the fiscal but has produced only about 5.7m barrels or 15,700 b/d. The ONGC is trying to achieve its ‘Mission 2600’ that aims to raise Assam asset production to 2600 t/d or 18,600 b/d.

For the ONGC to meet that target in 2018-19, oil production would have to increase by 2887 b/d or 18%. That is a tough ask because oil production has increased by only about 1% since 2016-17.

But Gas production in the Assam asset has shot up by 17% over the previous fiscal to 447m cm/y or 1.2m cm/d in 2017-18. Read More

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