The release of the "first oil" from Krishna Godavari Deep-Water Block 98/2 in the Bay of Bengal has been announced by Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri. This oil was extracted on Sunday in the Krishna Godavari Basin, thirty kilometers off the coast of Kakinada. Speaking on X (previously Twitter), Puri celebrated the win, calling it a significant step forward for the Modi administration's "Atmanirbhar Bharat" initiative. 45 000 barrels of oil are expected to be produced daily, the minister noted. There will also be a daily production of 10 million cubic meters of gas.
“First Oil” production commences from the complex & difficult deepwater KG-DWN-98/2 Block, situated off the coast of Bay of Bengal. Production is expected to be 45,000 barrels per day & over 10 million cubic metres of gas per day, contributing towards an energy #AatmanirbharBharat," Puri posted on X.
The accomplishment was praised by PM Modi as a "remarkable step" in India's energy journey. "This is a remarkable step in India's energy journey and boosts our mission for an Aatmanirbhar Bharat," the man stated on X, the previous Twitter platform. It will also boost our economy in a number of ways."
He said that although the project had begun in 2016–17, there had been some delays because of the Covid epidemic in a Monday media briefing. Of the 26 wells, four are currently in use, he disclosed. Details of the accomplishment's success were also provided by the Oil and Natural Gas Corporation (ONGC). On January 7, 2024, #ONGC began its "First Oil flow to FPSO" from Krishna Godavari Deep-Water Block 98/2 (in the Bay of Bengal), bringing the project's Phase 2 closer to completion. Phase 3, which will eventually result in peak production of gas and oil, is now under progress and should conclude in June 2024. According to the company's post on X, "The 98/2 project is expected to increase ONGC's total Oil and Gas production by 11 percent and 15 percent, respectively."
