- The cumulative natural gas production during April-August was 13,985.76 MMSCM, which was 19.94 percent higher than the production during the corresponding period of the last year
- Natural gas production by state-run ONGC in the nomination blocks was 1,743.54 MMSCM in August, which was 12.91 percent less than the monthly target
New Delhi: India’s natural gas production for August was 2,923.94 MMSCM, which was 20.23 percent higher when compared with the production of August 2020 but 10.14 percent lower than the monthly target, official data released by the Ministry of Petroleum and Natural Gas showed on Wednesday. The cumulative natural gas production during April-August was 13,985.76 MMSCM, which was 19.94 percent higher than the production during the corresponding period of the last year but 6.39 percent lower when compared with the target for the period.
Explaining the increase in natural gas production year-on-year, the ministry said, “Increase in gas production with respect to April-August 2021 target and corresponding period of last year is due to production from new fields D-34 and Satellite Cluster of KG-DWN-98/3 where production commenced in December 2020 and April, respectively. Besides, there is higher offtake from gas fields (AAP-ON-94/1, KG-OSN-2001/3 & CB-OSN-2003/1) that led to increase in the production.”
ONGC misses monthly target for natural gas production
Natural gas production by state-run Oil & Natural Gas Corporation (ONGC) in the nomination blocks was 1,743.54 MMSCM in August, which was 12.91 percent less than the monthly target. For the April-August period, at 8,526.13 MMSCM, production was 11.14 percent less than the target for the period. When compared to the corresponding month and period, the production was lower by 9.22 percent in August and 7.29 percent in the April-August period. Less than expected production from old wells and delay in commencement of gas production from KG-98/2 Cluster-II due to COVID-19 impact are the primary reasons that have impacted the overall production, according to the ministry.
OIL’s natural gas production for August higher than target
Natural gas production by Oil India Ltd (OIL) in the nomination block is higher than the monthly target of August by 2.20 percent but less by 4.46 percent when compared to the April-August period target. When compared to the corresponding month and period of the last year, the production figures are higher by 36.05 percent in August and by 13.36 percent in the April-August period.
Private sector logs growth of 186.22% y-o-y
At 923.82 MMSCM, natural gas production by private/JV companies in the PSC/RSC/CBM regime in August was higher by 186.22 percent when compared to August 2020. For the April-August period, natural gas production of 4,279.45 MMSCM was recorded, which was 200.84 percent higher than the corresponding period of the previous year. With regard to the monthly and the cumulative target, production was 7.68 percent higher for August and 4.11 percent lower for the April-August period.
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)