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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