Exploration & Production

ONGC forges ahead with KG deepwater project

India's state-backed company is hoping its development in the Bay of Bengal will help it become a major deepwater player India's state-backed company is hoping its development in the Bay of Bengal will help it become a major deepwater player.
By Damon Evans 17 August 2018 0 32193
An indian onshore gas terminal The onshore gas terminal for the KG-D6 block. (Niko Resources)

India’s state-backed Oil & Natural Gas Corp. (ONGC) will soon award major equipment and services contracts that will kickstart development of its flagship $10 billion deepwater gas development in the Krishna Godavari (KG) Basin off India’s east coast. 

Output from the KG-DWN-98/2 Block in the Bay of Bengal, where water depths range from 400 to 1,400 metres, will be vital to Prime Minister Narendra Modi’s target of cutting India’s rising reliance on oil imports and doubling the share of gas...