ONGC expects to ramp up gas output during next fiscal.

State-owned ONGC Ltd. expects to ramp up natural gas production up to 2 million standard cubic meters per day (MMSCMD) during the next fiscal as two of its eastern offshore wells are ready for production.

Ashok Varma, Executive Director (Asset Manager), Eastern Offshore Asset, said the oil and gas major has chalked out a programme to take up drilling in 40 to 45 wells by 2019.

The eastern offshore wing of the PSU has also sent proposals to hire four more rigs to meet the requirements.

'With these two wells, the total production from the eastern offshore will be about two million cubic meters of gas. These are gas fields. We get very little oil which is negligible. As of now we are getting 6.5 lakh cubic meters of gas and 50 cubic meters of oil from the eastern offshore wells per day,' Varma told PTI.


HBL