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Business EconomyPosted at: Feb 21 2018 8:11PM


Crude oil, natural gas production register slump

New Delhi, Feb 21 (UNI) India’s crude oil production during January this year registered a 5.58 per cent slump in the target to peg at 2976.41 TMT which was also 3.22 lower compared to January 2017 output.
Cumulative crude oil production during April-January, 2017-18 was 29910.80 TMT which is 4.48per cent lower than target for the period and 0.7per cent lower than production during corresponding period of last year.
The slump in overall crude oil production was due to a number of factors including delay in implementation of “Conversion of Sagar Samrat to Mobile Offshore Production Unit (MOPU)” project and non – realisation of production planned from “Integrated Development of B 127 Cluster" project since October 2017, due to delay in implementation of the project, an official statement said.
Crude oil production by ONGC during January, 2018 was 1836.79 TMT which was 5.45per cent lower than the monthly target and 4.15per cent lower when compared with January, 2017.
Cumulative crude oil production by ONGC during April-January, 2017-18 was 18685.49 TMT which is 3.05per cent lower than target for the period but 0.76per cent higher than production during corresponding period of last year.
The shortfall in production was due to Increase in water cut in wells of Heera, Neelam, B-173 fields and Kesnapalli west field of Rajahmundry, an official statement said.
Crude oil production by Oil India Limited (OIL) during January, 2018 also registered a slump and stood at 285.40 TMT which was 9.98 per cent lower than monthly target but 4.14per cent higher than production in January, 2017.
Cumulative crude oil production by OIL during April-January, 2017-18 was 2833.82 TMT which is 9.46per cent lower than target for the period but 4.78per cent higher than production during the corresponding period of last year.
Listing the reasons for the slump in production the Petroleum Ministry said, less than planned contribution from old wells.rise in water cut in wells and decline in total liquid production of wells of Greater Hapjan and Greater Chandmari Fields affected the output.
Crude oil production by private and joint ventures during January, 2018 was 854.21 TMT which was 5.39per cent lower than the monthly target and 3.49per cent lower than January, 2017.

Cumulative crude oil production by such units during April-January, 2017-18 was 8391.50 TMT which is 5.84per cent lower than target for the period and 5.40per cent lower than the production during the corresponding period of last year.

The scene was also not different in production of natural gas as natural gas production during January, 2018 went down by 11.55 per cent of the target to 2695.08 MMSCM.
Cumulative natural gas production during April-January, 2017-18 was 27382.63 MMSCM which is 6.13per cent lower than target for the period but 2.85per cent higher than the production during corresponding period of last year.
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Tags: #Crude oil# natural gas production register slump
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