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ONGC’s oil and gas output to fall by 2012

ONGC’s oil and gas output to fall by 2012
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First Published: Mon, May 19 2008. 08 11 PM IST
Updated: Mon, May 19 2008. 08 11 PM IST
PTI
New Delhi: Oil and Natural Gas Corp (ONGC) is likely to see oil and gas production from its largest fields in Mumbai offshore fall by 2012 as natural decline sets in the 20-year-old fields.
Crude oil production from Mumbai High field is slated to dip to 10.362 million tons in 2011-12 from 12.108 million tons in 2007-08, a company official said.
Mumbai High, which contributed 45 per cent of the ONGC’s 25.94 million tons crude oil production in 2007-08, is likely to produce 12.354 million tons this year before decline sets in.
ONGC’s total crude oil output this fiscal will be higher at 27.054 million tons with the company bringing to production new and marginal fields. It will rise to 29 million tons next fiscal before dipping to 27.36 million tons in 2011-12.
Gas production from Bassein and its Satellite fields will dip to 5,040 million standard cubic meters (about 13.8 million standard cubic meters per day) in 2011-12 from 10,129 million standard cubic meters (27.5 mmscmd) in 2007-08, he said.
As a result of natural phenomenon, reservoir pressure at the gas field has declined with continuous production for over 20 years, they said. Bassein field was discovered in 1977, some 80-km west of Mumbai and when in 1988 it began gas production, recoverable reserves were estimated at 226 billion cubic meters (7.98 trillion cubic feet). The reserves are now estimated at about 58 billion cubic meters (2.04 tcf).
Gas output from Basssein field, which accounts for 45% of ONGC’s gas production, during current year is estimated at 27.3 mmscmd which will fall to 22.75 mmscmd in 2009-10 and to 17.7 mmscmd in 2010-11.
The official said gas production from Mumbai High will decline from 5,328 million standard cubic meters (14.59 mmscmd) in 2007-08 to 3,188 million standard cubic meters (8.7 mmscmd) in 2011-12 while the same from Neerlam, Heera and B-173 fields would dip from 2.7 mmscmd to 2.06 mmscmd.
ONGC hopes to make up some of the decline by putting into operation new and marginal fields that are to begin producing one mmscmd gas in current year, rising up to 13 mmscmd in 2011-12.
ONGC’s total gas production from offshore fields in 2007-08 was 16,457 million standard cubic meters (45 mmscmd) which is estimated to decline to 39.1 mmscmd in 2011-12.
Gas production from onland fields will, however, see an increase to 21 mmscmd in 2011-12 from 16 mmscmd, officials said.
The company produced 22,334 million standard cubic meters (61.18 mmscmd) gas in 2007-08. This will marginally fall to 22,003 million standard cubic meters (60.2 mmscmd) in 2011-12.
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First Published: Mon, May 19 2008. 08 11 PM IST